Store Owners Are Getting Optimistic About the Holiday Season

Here’s some more evidence that Americans are planning to increase their spending during this holiday season.

The Conference Board is reporting that U.S. households plan to spend an average of $576 on gifts this holiday season, which is up from $538 last year.

Among Americans surveyed, 11% plan to spend more on gifts this year. Only 8% said so last year. The number who say they will spend less declined from 32% last year to 27% this year. Around 62% plan to spend about the same as they did in 2014.

Lynn Franco, Director of Economic Indicators at The Conference Board, points out that continued job growth, low gas prices and a healthy level of consumer confidence are all factors in Americans deciding to spend more this year.