“Virginians plan to dial back holiday spending this year, trimming budgets by about 5% even as the broader economy shows strong growth,” Virginia Mercury reported. “The poll found that households expect to spend an average of $1,035 this season in Virginia — down from last year — and they’re shifting how they spend, putting more toward gifts while cutting back on personal purchases and experiences.”
“That pattern echoes national signals of caution,” the publication added.
The survey comes as national polls show similar restraint, with Gallup and Deloitte reporting flat or declining holiday budgets across the U.S. The Roanoke College survey points to price pressures and a softening job market as factors shaping household expectations.
Be a Local in the Know. Get All the News & Fewer Ads. Since 2010, Potomac Local News has produced honest, trusted local news reporting. Please become a member today for 100% access, and support community journalism.
