Survey: 27% of Americans to spend less on 2011 holiday

New York City -- Most than a quarter of Americans expect to spend less during the holidays this year, according to a survey by American’s Research Group, Reuters reported.



About 27% of people surveyed said they planned to spend less this year, while about 55% expect to spend only as much as last year. The question was one of several asked exclusively for Reuters as part of a larger America's Research Group survey.



More than half of those surveyed said they expected the economy to slow further before it recovers. Only about 18% of Americans plan to spend more this holiday season, down from 23% last year.