Most in survey expect a recession

Six in 10 U.S. consumers say a recession is likely in the next three to six months, according to a survey on holiday spending.

In a telephone poll by America’s Research Group, 46% of 1,000 respondents said a recession was “somewhat likely” and 14% said it was “very likely.” Forty percent said it was “not likely.” The margin of error is plus or minus 4 percentage points.

The survey found that the number of consumers who feel worse off financially this Christmas season had risen to almost one-third of Americans, up from 19% last year.

Consumers are skittish about buying toys from China in the wake of high-profile recalls of toys made there. Only 11% said they would buy toys made in China for Christmas, 67% said they would not and the rest said they didn’t know. The survey found that 67% were willing to pay more for a U.S.-made toy.