“Based on this survey, we'll use the same prediction that we did last year – that holiday spending this year will increase by between 3 and a half and four percent over last year's results.”

Some of the questions asked of participants included whether or not recent controversies over federal government spending and borrowing had affected their holiday spending plans. In response, 51% said that their plans were affected, 18% said very much, 16% said somewhat and 16% said a little.

The majority of individuals surveyed who said they were affected by the federal government shutdown came from households earning under $50,000 per year at 59% while 37% lived in households earning over $100,000.

According to the results announced at the National Press Club, 24% said their financial situation was better than last year while 29% said it was worse. CUNA and CFA said this was the smallest gap since they began asking the question in 2009. In 2011, the gap was 18% with 19% saying their situation was better and 37% saying it was worse.

“These data are evidence of economic recovery, however modest,” said CFA Executive Director Stephen Brobeck.

“It is also encouraging that fewer Americans see their economic status as worsening, despite ongoing federal budget issues in Washington,” said Hampel.