30% of consumers to spend less on holiday gifts, 14% to spend more in 2005

For the past 2 years, consumers have spent more than 5% than in previous years on holiday gifts. This year 30% said they would spend less on holiday gifts than they did in 2004, with 14% planning to spend more and 51% saying they’d spend about the same as 2004. 41% of respondents said the cost of gasoline and home heating oil would decrease their spending, Consumer Federation of America and the Credit Union National Association say.