Forget a white Christmas. Things are looking a little blue for the holidays, if one goes by the Discover U.S. Spending Monitor. Sixty-six percent of consumers are planning to spend less this holiday season due to the financial crisis, according to the Spending Monitor, which fell a record six points last month to 80.4 on a scale of 100.
The findings suggest that consumers’ economic confidence reached all-time lows, while views of personal finances also deteriorated. Nearly two out of three consumers now rate the economy as poor, and 72 percent think things are getting worse. A year ago only 19 percent gave the economy a poor rating and 52 percent thought it was getting worse.