Alaskans Spending More in the 2011 Holiday Season
Alaskans are spending more this holiday season. Northern Economics’ quarterly Alaska Confidence Index survey shows a shift towards greater spending compared to the 2010 holiday season. This year’s Christmas supplemental questions showed that respondent households planned to spend an average of $1,333 this year as compared to $1,275 in 2010.
This difference is equivalent to a 4.5 percent spending increase over 2010 levels and represents an estimated $13.6 million in additional spending by Alaska households. The estimated median household expenditure is also up by one-third increasing from $750 in 2010 to $1,000 this year.
The narrowing of the difference between the mean and the median indicates that the increased spending is coming from a broad range of households and not just extra large purchases by a few households.
For more information regarding the Alaska Confidence Review please contact Jonathan King, Northern Economics, Inc. at 907-274-5600.