Holiday shoppers say they will spend 9% more

U.S. shoppers expect to spend 9% more during the holidays, buoyed by lower gasoline prices. It is the second time in five years that Americans planned to buy more than a year earlier, according to a widely watched forecast.

Shoppers intend to spend $676 per household on holiday purchases, up from $620 in 2005, the International Council of Shopping Centers and UBS Securities said in a study. About 56% of shoppers surveyed expected to spend the same as last year, and 17% planned to spend “more or substantially more.”

“The upcoming holiday season looks bright for the nation’s retailers,” said Michael P. Niemira, chief economist for the New York-based shopping center group.

The survey of 1,000 people ages 18 and older across the U.S. was conducted Nov. 2 through Sunday.