Will shoppers really spend more this holiday season than they did last year? It depends on whom you ask.
By most measures, Americans are feeling good about the economy. A monthly gauge of consumer confidence is at a 17-year high. The unemployment rate is at a 17-year low. The stock market continues to hit all-time peaks, while gas remains relatively cheap.
That optimism is expected to help boost holiday shopping sales by as much as 4% this year, according to data from the National Retail Federation. The trade group projects Americans will spend a record $682 billion this year.
But there are signs that the optimism may be limited to high-income Americans. Data show that...