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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US
A new survey from Gallup has found that: “The total amount Americans estimate they’ll spend on Christmas or other holiday gifts this year averages $975 in Gallup’s final 2023 reading, taken in November. This exceeds consumers’ holiday spending estimate from a year ago by more than $100 and is the highest in Gallup’s November measures historically since 1999.”
- According to Gallup: “Both the recent and year-over-year increases seen in consumers’ November holiday spending estimate run contrary to the implications of Americans’ continued pessimism about the economy and relatively sluggish overall spending in October, according to recent Commerce Department data.”
- The Gallup survey support FT analysis we highlighted earlier this week which suggested that partisan affiliation may be driving voter perceptions of the economy. FT postulated that US consumer spending, which far outstrips comparable G7 economies, could be a better indication of US economic strength.
Figure 1: Americans' Estimated Holiday Spending -- November Readings
Source: Gallup
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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