Holiday Spending to Grow 3.7 Percent in 2012
Despite Expanding Sales, Expenditure Won’t Return to Prerecession Levels as “Fiscal Cliff” Concerns are Expected to Shake Consumer Confidence and Curb OverspendingBy IBISWorld Analyst Olivia Tang Holiday spending is forecast to increase 3.7 percent from last year to total $69.2 billion, according to IBISWorld. Higher disposable income levels will allow consumers to spend more freely on food, decorations and gifts during the winter holiday shopping season, from Nov. 1 to Dec. 25. But 2012 holiday spending will grow at a lower rate than the 4.9 percent rise in 2011 due to the approaching “