 Data: Gallup. Chart: Axios Visuals The Christmas countdown is on and consumers have increased gift budgets in the final weeks of the holiday shopping season, Axios' Kelly Tyko writes from a new Gallup survey. - Why it matters: Despite falling consumer sentiment, Americans plan to spend an average of $975 on gifts — a $52 increase from what consumers thought in October, the survey found.
The holiday spending estimate is also up $100 from last year, the survey of 1,009 U.S. adults shows. - Consumers' estimates normally decline — not increase — as the season progresses, Gallup notes.
🔎 Zoom in: The expected December spending spree follows a record-breaking Black Friday and Cyber Monday. - Households with children plan to spend $1,306, compared with $835 among those in households without children.
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