Survey: Americans are planning to spend more on Christmas this year

A new Gallup survey found that Americans in general plan to spend more on Christmas this year, another sign that the U.S. economy and workers are doing well.

According to the survey, released Friday, Americans plan on spending, on average, $942 on gifts, up from $885 last year.

Gallup said that’s the highest October projection since the polling firm began measuring Christmas spending in 1990.

Thirty-seven percent said they plan on spending $1,000 or more, a record share, while about 16 percent said they would be spending less.

“As is typical, the largest segment of Americans, 65 percent, say they will spend about the same on gifts this year, the survey said.

Gallup said this latest survey is just the second time in the past 30 years that Americans who expect to spend more outnumber those who plan to spend less.

Gallup polled more than 1,500 U.S. adults for the survey, which has a margin of error of 3 points.

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