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CNN poll: 50% of Americans spending less on gifts

CNN poll finds that nearly half of Americans will spend less this season on gifts, and that charitable contributions will be down.

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By CNNMoney.com staff

NEW YORK (CNNMoney.com) -- A lot of Americans will be cutting back on spending for their families and others this holiday season, and will be more practical with the gifts they give, according to a CNN/Opinion Research poll released Monday.

According to the poll, 49% of those surveyed said they'll spend less on holiday gifts this year than they did last year. Another 39% said they'll spend at 2008 levels, while 12% indicated they'll spend more.

The poll also found that 51% of those surveyed will cut back in what they'll make in charitable contributions due to economic conditions this year, while 44% said the economy will have no impact on their giving.

There may not be a lot of extravagances under the tree or menorah this season. The CNN poll found that 68% of those surveyed will be buying gifts that people need, compared to 27% who will be purchasing gifts that people might enjoy and 4% who play to buy both practical and fun gifts.

But a majority of Americans do have holiday spirit. The poll found that 59% of those polled do not believe economic conditions will make this season more stressful, compared to 40% who do.

The CNN/Opinion Research poll was based on interviews with 1,041 Americans conducted between Dec. 2 and 3. To top of page

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