U.S. consumers plan to spend more this holiday season (2)

The fresh findings are an improvement from the 2008 survey, in which 55 percent of respondents said they intended to spend less at the depth of the Great Recession. From 2000 to 2007, the percentage of those who indicated they planned to spend less never exceeded 35 percent, and often was 30 percent or lower.

"Our survey results suggest that holiday spending this year will likely rise by between 3 percent and 4 percent compared to last year," said CUNA Chief Economist Bill Hampel. "This represents the fourth year of gradual improvement in holiday spending plans since a sharp decline in such plans in 2008."

Another industry group National Retail Federation (NRF) predicted in October that U.S. holiday sales this year would increase to 586.1 billion dollars, up 4.1 percent from the previous year. The estimated growth was higher than the 10-year average holiday sales increase of 3.5 percent. Holiday season is November and December, which include U.S. traditional festivals like Thanksgiving and Christmas.

Consumer spending accounts for 70 percent of the total U.S. economic activity, and experts expect the overall economic recovery will significantly rely on the rebound of consumption.

Recommended Features: [Special]'Made in China' Revisited From 'Made in China' to 'Created in China' A Journey to Cultural Renaissance The Vision of A Pillar Industry China: A Fast-growing Force in IPR IPR in China: Local Roots Bearing Global Fruits A Decade of Fastest Development Eastern Boom Lightens Western Gloom Chinese firms 'potential Trojan horses'？