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News Release 11-269
United States Ranks 20th in Holiday Spending
Americans typically spend $70 billion more in December than in November and January
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Even though the U.S. economy has continued to grow, Americans spend less now on Christmas gifts and other items in December, as compared to the size of the economy, than at any time during the last 75 years.
Credit: © 2011 Jupiter Images Corporation
University of Minnesota economist Joel Waldfogel, author of Scroogenomics: Why You Shouldn't Buy Presents for the Holidays gives his unique view on buying Christmas presents and holiday spending.
Credit: National Science Foundation