Americans Would Spend More This Holiday Season With $1,200 Stimulus Checks, Gallup Study Finds
Nov 13, 2020
A fresh round of stimulus checks in Americans’ bank accounts before the end of the year could provide a welcomed boost to retailers this holiday season, according to a new study. Assuming no additional government stimulus, 37% of consumers said they are likely to spend less money during the holidays, while only 16% plan to spend more on gifts, the Franklin Templeton-Gallup Economics of Recovery study found. However, assuming there is a $1,200 stimulus payment, the percentage of people planning to spend less falls to 30%, while those planning to dole out more cash on gifts jumps to 22%, according to the poll, which is based on the online responses of 5,002 people from Oct. 1 to Oct. 9. Read more at CNBC.