MassMutual Survey Finds 38% Plan to Spend Less This Holiday
Many Americans anticipate a “leaner” holiday season compared with last year, making “fewer discretionary purchases to streamline their spending,” a MassMutual consumer survey found. The company commissioned PSB Insights to canvass 1,000 U.S. adults Aug. 16-22, finding 38% plan to…
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spend less this holiday season than they did last year, it said. An equal percentage plan to spend the same amount as last holiday season, it said. More than half of Americans (56%) think the U.S. already is in a recession, it said. Of those who don’t believe the U.S. is currently in a recession, 49% think a recession is likely within the next year, it said. Other findings: (1) more than two-thirds (67%) of the sample feel optimistic about their current financial outlook, compared with 61% who were canvassed in the previous quarter; (2) The current economy is not dampening millennials’ views of their financial futures, with 32% feeling very optimistic, compared with 29% in the previous quarter.