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The Independent UK

Business

Erin Keller

A lighter Santa’s sleigh: Two out of five Americans plan to spend less this holiday season amid economic uncertainty

Nationwide United States Economy National Retail Federation

Santa’s sleigh is looking a little lighter this year as a sizable number of Americans plan to cut back on holiday spending and, in some cases, not buy gifts at all.

Roughly two in five U.S. consumers (42 percent) say they intend to spend less this holiday season compared with 2024, according to a 2025 Economic Impact Survey commissioned by insurance company Nationwide.

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