Shoppers at the King of Prussia mall in King of Prussia, Pennsylvania, on Saturday, Dec. 4, 2021.
Hannah Beier | Bloomberg | Getty Images
American shoppers plan to watch their wallets closely this holiday shopping season, with 41% saying they plan to spend less this year than last, according to the CNBC All-America Economic Survey. It marks the most cautious holiday season since 2013.
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CNBC All-America Economic Survey
The survey found that average spending intentions for gifts fell about 10% from last year to $907 from $1,004 in 2021 when Americans were flush with cash from government stimulus. This year, though wage expectations are up and Americans feel secure in their jobs, high inflation and concern about the economy and housing prices look to be sapping Yuletide spending cheer.
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CNBC All-America Economic Survey
A third of Americans say they will spend less because…
