National Survey Says Consumers Will Spend More during Holidays

The Credit Union National Association (CUNA) and the Consumer Federation of America (CFA) released the results of a national survey that indicates consumers will spend about 4% more this holiday season than last. According to a joint CUNA/CFA news release: in the past year, the percentage who said they would spend more than last year rose from 8 to 12, and the percentage who said they would spend less declined from 41 to 38.

The intention of consumers to increase holiday spending from last year is consistent with perceived improvement in their financial situation. From 2011 to 2012, the percentage who said their financial situation was better than a year ago rose from 19 to 24, and the percentage who said it was worse fell from 37 to 33.

“Our survey results suggest that holiday spending this year will likely rise by between 3.5 percent and 4 percent compared to last year,” said Bill Hampel, Chief Economist for the Credit Union National Association. “This represents the fourth year of gradual improvement in holiday spending plans since a sharp decline in such plans in 2008.”

Read the full press release here.

 

Questions? Contact Director of Public Relations David Bennett: 206.340.4828, dbennett@nwcua.org.

Posted in Advocacy News, Around the NW, NWCUA.