December 26, 2012
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Christmas spending went down this year.
According to surveys from the American Research Group with regards to Christmas gift spending, the average family plans to spend $646 this Christmas shopping season. This spending is down from $658 last year, but above the ten year low of $417 in 2009. Over the last ten years, the highest reported spending was in 2001 with $1,052.When compared to the average family budget, the Christmas gift budget makes up 1.3% of all average family spending. It is more than what the average family will spend on reading materials ($110/year) and alcoholic beverages ($435/year) put together.
