Weak Economy as Holiday Shoppers Saying Blah Humbug

Economy troubles has consumers holding back

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With just over a week left until Christmas, consumers have completed less than half of their holiday shopping and millions haven't even started.
 
That's according to a new report from the national retail federation.

The survey found that the average person has finished 47 percent, less than half of their holiday shopping.
And more than 41 million people have not even started.

Who are the big procrastinators? Men between the ages of 35 and 44. But the economy is also leaving some consumers feeling a bit blah humbug.

In a recent survey 70 percent of respondents said they would like to receive a gift card for Christmas. With 48 percent saying they'd like it to be for a grocery store.

According to America's research group, the number of consumers spending less for Christmas gifts is at an all time high this year. At 40 percent that's nearly double last year's.
 
Of those spending less 63 percent say they're motivated by job fears. The big concerns last year were high gas prices and high heating bills.

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