Tuesday, October 20, 2009

A White Knuckle Christmas

Early indicators have some analyist predicting a grim Christmas.

This holiday season, don't be surprised if your gifts come from discount stores -- or if some of your friends don't buy you anything at all.

Lingering economic worries will cause holiday shoppers to trim budgets and look for more deals this year, according to a National Retail Federation survey to be released today. The survey found that U.S. consumers plan to spend an average of $682.74 on holiday shopping, a 3.2% drop from $705.01 last year.

The findings are in line with recent projections by numerous analysts and retail groups that call for a flat to negative Christmas season as consumers continue to worry about their jobs and finances.

The Grinch may steal this Christmas.

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