'

60% of US consumers to reduce spending this holiday season

53% of Americans surveyed by Deloitte expect the economy to weaken in 2009, compared with 43% of people who expressed that view in 2007. Almost 60% of US consumers said they would reduce spending this holiday season. Shoppers plan to spend about $532 on gifts, down 6.5% from 2007, and buy fewer items.

53% of Americans surveyed by Deloitte expect the economy to weaken in 2009, compared with 43% of people who expressed that view in 2007. Almost 60% of US consumers said they would reduce spending this holiday season. Shoppers plan to spend about $532 on gifts, down 6.5% from 2007, and buy fewer items.