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US shoppers to spend 9 percent more on holidays
POSTED: 9:55 a.m. EDT, November 13,2006

US shoppers are expected to increase their spending by 9 percent during the Thanksgiving and Christmas holidays, according to a study published on Saturday.


It is the second time in five years that Americans planned to buy more than a year earlier, according to the study that appeared on the Los Angeles Times website.


The study attributed the would-be increase in spending to lower gasoline prices.
Shoppers intend to spend US$676 per household on holiday purchases, up from US$620 in 2005, said the study conducted by the International Council of Shopping Centers and UBS Securities.


About 56 percent of shoppers surveyed expected to spend the same as last year, and 17 percent planned to spend "more or substantially more."


"The upcoming holiday season looks bright for the nation's retailers," said Michael P. Niemira, chief economist for the shopping center group.


The survey of 1,000 people aged 18 and older across the US was conducted Nov. 2 through Sunday.

From:eastday
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