Almost 40% of Americans plan to spend less on gifts this holiday season than they did last year, the largest such percentage since 2013, according to the CNBC All-America Economic Survey.
Just 11% plan to spend more, as Americans continue to cope with surging Covid-19 cases and widespread unemployment. The average American plans to spend just $886, down 10% from their planned spending last year, according to the survey. CONTINUED
Steve Liesman, CNBC
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