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posted: 11/5/2012 8:40 AM

Survey: Chicagoans to spend more on holiday gifts

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Associated Press

Chicago area retailers will be a little bit busier this holiday season but area residents may scale back on decorations and parties.

That's what the Chicago Tribune reports that the consulting firm Deloitte thinks, anyway. Deloitte conducted an online survey that found area consumers plan to spend about 10 percent more on gifts this year. That's a lot higher than the 1 percent increase that the National Retail Federation is expecting for the country.

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Meanwhile, Deloitte, which surveyed 5,089 people nationally and 500 Chicago residents, found that the total people will spend on the holidays on everything from gifts to decorations to entertaining, will drop 6.7 percent.

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