Holiday spending to increase in 2017, experts say

Average projected to rise 3.4 percent

(CNN Image)

WASHINGTON – Americans will spend more this year on holiday shopping, according to new numbers released by the National Retail Federation.

The survey suggests shoppers will shell out an average of $967 on gifts this holiday season. That's up from $936 a year ago.

NRF President and CEO Matthew Shay says one reason for the extra spending is an increase in income over the past year. Another factor, experts say, could be the longer holiday shopping season. This year, there are 32 days between Thanksgiving and Christmas.

You can get a closer look at the survey by clicking here.

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