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U.S. consumers plan to spend more this holiday season


10:19, November 22, 2012

WASHINGTON, Nov. 21 (Xinhua) -- U.S. consumers planned to spend more than last year in the upcoming holiday season, as they perceived improvement in their financial situation, according to a leading industry survey released on Wednesday.

Twenty-four percent of the 1,012 consumers surveyed said that their financial condition was better this year than a year ago, compared to 19 percent last year, showed the 13th annual nationwide holiday spending survey of consumers conducted on Nov. 9-13 by the Consumer Federation of America (CFA) and the Credit Union National Association (CUNA).

In addition, this year only 33 percent of consumers reported that their condition was worse compared to a year ago, as against 37 percent in the previous year.

As a result of improving financial condition, 12 percent of consumers said they were planning to spend more this year than last year, more than 8 percent recorded a year ago. However, 38 percent of consumers said they will spend less, compared to a slightly higher level of 41 percent last year.

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