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Post by jeffolie on Nov 20, 2007 10:30:59 GMT -6
Christmas looking awlful Tighter purse strings Consumers say gas and gift prices will cause them to spend less this year By Andrea Coombes, MarketWatch SAN FRANCISCO (MarketWatch) -- The highest percentage of consumers in eight years says it is going to ease back on holiday shopping this year, with many Americans citing rising gas and home-heating costs, plus gift prices, as top reasons for their stricter budgeting, according to the eighth annual holiday-spending survey released Monday by the Consumer Federation of America and the Credit Union National Association. Thirty-five percent of consumers said they plan to spend less than last year, up from 32% a year ago, according to the survey of more than 1,000 adults, conducted for CFA and CUNA by Opinion Research Corp. The survey's margin of error is plus or minus 3 percentage points. When asked which factors were pushing them to either increase or decrease their holiday outlays, 38% pointed to gasoline and home-heating costs as reasons to spend less, up from 32% who said that last year. "By a wide margin, the strongest negative influence on holiday spending plans this year is high energy and gasoline costs," said Bill Hampel, chief economist at CUNA, in a conference call announcing the survey results. www.marketwatch.com/news/story/consumers-say-gas-gift-prices/story.aspx?guid=%7B6607A2A0%2D6752%2D4B65%2D95BD%2D41CC0D7371C0%7D
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Post by blueneck on Nov 20, 2007 11:13:55 GMT -6
Don't discount the backlash over tainted chinese toys.
Just saw on a business show that Made in USA toy sales over the internet are way up, but chinese produced toys are languishing on store shelves.
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