1. Home
  2. /
  3. Politics
  4. /
  5. Slideshow
  6. /
  7. Americans Optimistic About Holiday...

Americans Optimistic About Holiday Shopping Amidst Economic Concerns

Despite a persistently gloomy outlook on the economy, Americans are gearing up for a festive holiday season with increased spending plans, according to a survey.

Holiday Spending Soars

The survey indicates that Americans intend to spend generously during this holiday season.

The average planned expenditure is $1,300 per person, marking a 31% increase from the previous year.

Double Digit Growth

Credit: DepositPhotos

Even after excluding those who plan to make substantial purchases, the overall spending intentions still show double-digit growth.

Notably, 18% of respondents express their intention to spend more, a significant rise from the 11% reported in the previous year and the highest since 2019.

Read More: Analyzing ATF’s Proposed Firearm Sales Rule and NRA’s Concerns

Higher Incomes, Inflation As Key Factors

Credit: DepositPhotos

Among those planning to spend more, 32% attribute it to higher incomes, while 24% cite inflation as a driving factor.

Conversely, 37% of those planning to spend less this year attribute their decision to concerns about inflation, a substantial increase from the 15% reported last year.

Divergent Sentiments

Credit: DepositPhotos

These findings highlight the significant role of inflation in shaping consumer spending behavior.

The CNBC survey underscores the discrepancy between Americans’ downbeat economic sentiments and robust economic data.

Sentiment Not In Line With Economic Performance

Credit: DepositPhotos

Although multiple surveys reflect pessimistic economic views, recent data indicate strong consumer spending, surging third-quarter growth, a low unemployment rate, and a vibrant holiday shopping season.

Also Read: New York’s Groundbreaking Gun Law Ruling: A Game-Changer for Public Safety!

Economic Sentiment Remains Depressed

Credit: DepositPhotos

While there have been modest improvements in perceptions of the economy, they remain largely pessimistic.

A staggering 80% of respondents view the economy as either fair or poor, though this represents a slight improvement from the previous October survey.

Slightly Better Than Covid Times

Credit: Depositphotos

Conversely, only 19% regard it as excellent or good. These figures, however, pale in comparison to pre-pandemic levels in December 2019 when 53% of the public viewed the economy positively.

Outlook Improved Marginally

Credit: DepositPhotos

There is a slight improvement in economic outlook, with 24% of respondents anticipating economic improvement, compared to 19% in October.

However, this figure still lags behind the 30% recorded in 2019. Overall, 66% of Americans remain pessimistic about both the current state of the economy and its future, marking an all-time high in the 17-year history of the survey.

Read Next: Republicans slam Washington Post op-ed which suggested ‘open rebellion

Inflation as Top Concern

Credit: DepositPhotos

The issue of inflation seems to be a significant driver of economic sentiment, with 30% of respondents identifying it as the nation’s top concern.

This is only a marginal decrease from the previous quarter’s high, indicating that Americans remain worried about the persistently high prices, rather than the rate of price increases.

Immigration and border security (18%) and foreign policy and national security (12%) followed as the leading concerns.

Public Opinion Analyst Insights

Credit: DepositPhotos

Micah Roberts of Public Opinion Strategies, the Republican pollster for the survey, commented on the situation, stating that people may be spending more but are seemingly getting less value in return.

This experience of working hard, spending more, and receiving less is taking a toll on individuals, contributing to their dissatisfaction.

More From The Stock Dork – Surge in Food Bank Demand as Americans Struggle with Inflation

Credit: DepositPhotos

Surge in Food Bank Demand as Americans Struggle with Inflation

More From The Stock Dork – Reflation vs Inflation: The Ultimate Comparison

Reflation vs Inflation

Reflation vs Inflation: The Ultimate Comparison

More From The Stock Dork – Why Americans Remain Pessimistic About the Economy Despite Decreasing Inflation and Low Unemployment Rates

Credit: DepositPhotos

Why Americans Remain Pessimistic About the Economy Despite Decreasing Inflation and Low Unemployment Rates

More From The Stock Dork – Americans Express Frustration as Economy Booms but Inflation Persists

Americans Express Frustration as Economy Booms but Inflation Persists

More From The Stock Dork – Americans Grapple with Frustration as Economy Thrives, Yet Inflation Persists

inflation
Credit: DepositPhotos

Americans Grapple with Frustration as Economy Thrives, Yet Inflation Persists

mm

Malik is a skilled writer with a passion for news and current events. With their keen eye for detail, they provide insightful perspectives on the latest happenings. Stay informed and engaged!