Business
Most U.S. consumers expect higher holiday prices and a weaker economy, survey finds
As the peak holiday shopping season approaches, most U.S. consumers have a downbeat outlook on the economy, according to an annual Deloitte survey published Wednesday.
Most consumers surveyed — 57% — said they expect the economy to weaken in the year ahead, the consulting firm found in a poll of roughly 4,000 respondents. That compares with 30% who expected a weaker economy ahead of the year-ago holiday season and 54% in 2008, one of the years of the Great Recession.
It marks the most negative economic outlook since Deloitte began tracking that in 1997.
Seventy-seven percent of people surveyed said they expect higher prices on holiday items, up from 69% last year, according to Deloitte. It’s the first holiday season since President Donald Trump‘s latest wave of tariff hikes on many imports.
“We’ve been talking about the resilient consumer for a while now, that despite all these pressures, the U.S. consumer continues to spend and we keep seeing growth and spending for retail,” said Brian McCarthy, retail strategy leader for Deloitte. “This outlook is starting to suggest that we’re getting towards the end of that resilience.”
Consumers’ pessimistic mindset has factored into their spending plans during the holiday season. They plan to spend an average of $1,595, 10% less than the $1,778 they planned to spend in the year-ago period, as they brace for higher prices, according to the Deloitte survey.
The lower anticipated spending cuts across all household income groups and nearly all generations, Deloitte found. Yet it was especially significant among younger shoppers.
Gen Z consumers, which in the survey were between ages 18 and 28, said they plan to spend an average of 34% less this holiday season than a year ago. Millennials, respondents between age 29 and 44 in the poll, said they expect to spend an average of 13% less this holiday season.
That compares with Gen X, which plans to spend an average of 3% more, and baby boomers, who expect to spend an average of 6% less.
For Gen Z shoppers, the tighter holiday budget likely comes from feeling more uncertain and unstable early in their careers, McCarthy said.
“They’re thinking about income and the job market and the concerns about the economy is going to throw a lot more pressure on them because they haven’t yet had time to sort of build up their savings or plan for less rosy economic environments,” he said.
Mike Daher, U.S. consumer industry leader for Deloitte, said the age group is also “exposed to a lot of inflationary pressures around housing costs,” along with higher prices for everyday items like groceries.
For retailers and brands, the findings add a note of caution to the most crucial sales period of the year. Other holiday forecasts have also found households expect to spend less, while still reflecting consumers’ appetite for decorating and giving gifts during the festive season.
Holiday spending across stores and online is expected to rise 4% year over year, according to consulting firm Bain & Co., a drop from the 10-year average of 5.2% growth. A separate Adobe Analytics report found online holiday spending in the U.S. is expected to grow 5.3% year over year, but that would be slower than the year-ago increase of 8.7% year over year.
Like Deloitte’s poll, consulting firm PwC’s survey indicated a holiday pullback among Gen Z consumers, who said they planned to spend 23% less than during the year-ago period. Overall, consumers said they expect to spend about 5% less – or an average total of $1,552 – on holiday gifts, travel and entertainment compared with the year-ago season, according to the PwC survey.
The National Retail Federation, the major industry trade group, plans to share its holiday forecast in early November.
Though holiday outlooks have varied, one of the dominant themes of this holiday season will be value-seeking, Deloitte’s McCarthy said. Even in the past several months, the firm has found a notable uptick in the number of U.S. consumers who have reported seeking deals. Across income groups, Deloitte’s survey indicated that 7 in 10 respondents are engaging in three or more deal-seeking behaviors, such as purchasing store brands or alternative ingredients, cooking more meals at home and buying used cars.
As consumers watch their budgets, they told Deloitte they will cut back on holiday-related extras. On average, consumers said they plan to spend $397 on nongift holiday expenses, such as hosting, clothing and decor, a 22% drop from $507 a year ago.
For gifts, however, the cut wasn’t as deep. On average, survey respondents said they plan to buy eight gifts compared with nine in the year-ago period and spend 6% less on average, a drop to $505 compared with $536 in the prior-year holiday season.
NEW DELHI: People with job cards assigned under Mahatma Gandhi National Rural Guarantee Scheme will be able to get work without disruption when transition takes place to new rural employment framework under Viksit Bharat-Guarantee for Rozgar and Aajeevika Mission (Gramin) Act.Even though exact timeframe is not known yet, rural development ministry officials said the VB-G RAM G scheme will come into force in the coming financial year after the Centre frames and notifies the rules. After govt notifies the Act’s commencement date, states will get six months to make their schemes to enable implementation of the law.To ensure there is no disruption and job guarantee is upheld during transition from MGNREGA, it has been proposed to enable workers to use the same job cards issued under MGNREGA with Aadhaar-based eKYC.The officials said that as of now, around 75% of job cards have been verified with eKYC under the ongoing scheme. Moreover, ongoing projects under MGNREGA, if incomplete when the transition happens to the new scheme, would stay on course.Meanwhile, work is on to frame rules, lay out regulations on normative allocations, fund flow plan, IT framework, a national-level steering panel and social audits.Under the new law, focus will be on transparency to weed out leakages and duplicacy of work,the social audit system will be strengthened, and technology leveraged to create systems to establish work progress, timely wage payment and accountability through ‘e-measurement’ books, sources said. Demand for work will have to be entered on a digital platform. Officials made it clear the new law in no way interferes with demand-driven character of the scheme.
Business
Gurugram Attracts Rs 86,588 Crore In Real Estate Investments In 2025 As RERA Clears 131 Projects
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Alongside rising investments, Gurugram RERA strengthened regulatory oversight to safeguard homebuyer and investor interests
Gurgaon Real Estate (Representative Image)
Gurugram emerged as one of India’s top real estate investment destinations in 2025, with projects worth Rs 86,588 crore receiving regulatory approvals during the year, according to data from the Gurugram Real Estate Regulatory Authority (Gurugram RERA).
Market observers said the numbers reflect strong investor confidence in the NCR’s largest commercial and residential hub.
Gurugram RERA registered 131 projects in calendar year 2025, representing development potential of 35,455 units across housing and commercial segments.
A striking feature of the data was the dominance of large-ticket projects. Just 28 major developments accounted for investments worth Rs 59,360 crore, highlighting the growing influence of institutional capital and large developers in shaping Gurugram’s property market.
Residential assets continued to attract the bulk of investment interest. Of the total units approved, 31,455 were residential, underscoring sustained end-user demand and long-term confidence in the city’s housing fundamentals.
According to Authority data, the residential mix included 17,405 group housing units, 5,720 mixed land use units, 4,040 residential floor units, 2,122 affordable group housing units, 1,954 units under the Deen Dayal housing scheme, and 214 residential plotted colony units.
Market observers said this diversified supply pipeline indicates capital deployment across both premium and mass segments, helping reduce concentration risk and deepen market resilience.
On the commercial side, Gurugram RERA approved about 4,000 commercial units, of which 168 were dedicated to IT parks, reinforcing Gurugram’s position as a preferred hub for technology firms and Global Capability Centres.
Analysts noted that the combination of office-led employment growth and residential expansion continues to make Gurugram attractive for long-term capital deployment.
Industry experts said the scale of investments approved in 2025 highlights Gurugram’s ability to attract capital despite global uncertainty, supported by infrastructure growth, a strong corporate base and an improving regulatory environment.
“With a large pipeline of approved projects and sustained interest from developers and institutional investors, Gurugram is expected to remain a key real estate investment destination in the coming years,” a Gurugram-based real estate expert said.
Tighter regulatory checks
Alongside rising investments, Gurugram RERA strengthened regulatory oversight to enhance transparency and safeguard homebuyer and investor interests.
“These steps included stricter scrutiny of developer submissions, mandatory site inspections by domain experts, and public consultation through mandatory notices before project registration,” an Authority official said.
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January 16, 2026, 07:44 IST
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National Startup Day highlights India’s thriving startup ecosystem, celebrating innovation, entrepreneurship and job creation driven by founders, unicorns and Startup India mission
National Startup Day 2026 honours Indian startups, entrepreneurs and innovators driving economic growth and job creation.
National Startup Day 2026: India’s startup ecosystem has evolved into one of the world’s most vibrant and promising innovation hubs. To recognise the contribution of entrepreneurs, founders and startups transforming ideas into impactful solutions, National Startup Day is observed every year on January 16 across the country.
Launched by Prime Minister Narendra Modi in 2022, the day celebrates visionary entrepreneurs who play a crucial role in economic growth, employment generation and technological advancement.
National Startup Day serves as a reminder that innovation, backed by determination and policy support, can reshape society and create global impact.
National Startup Day 2026 Theme
The official theme for National Startup Day 2026 is yet to be announced. However, the core focus areas are expected to revolve around:
- Innovation and emerging technologies
- Entrepreneurship and leadership
- Self-reliance (Atmanirbhar Bharat)
- Startup India Mission
- Youth empowerment
- Job creation
How Startups Are Shaping India’s Future
India currently ranks as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of early 2025. Backed by 100+ unicorns, the ecosystem continues to grow rapidly.
Metro cities such as Bengaluru, Hyderabad, Mumbai and Delhi-NCR lead this expansion, while Tier-2 and Tier-3 cities are emerging as new innovation centres, adding diversity and scale to India’s entrepreneurial journey.
Startups across fintech, edtech, health-tech, e-commerce and deep-tech are addressing real-world challenges and gaining global recognition. Technologies like artificial intelligence, blockchain and IoT are increasingly driving innovation, according to Startup India ecosystem reports.
Industry-Wise Startup Impact
DPIIT-recognised startups have generated over 16.6 lakh direct jobs across sectors as of October 31, 2024, strengthening India’s employment landscape.
- IT Services: 2.04 lakh jobs
- Healthcare & Life Sciences: 1.47 lakh jobs
- Commercial & Professional Services: 94,000 jobs
Through the Startup India initiative, the government continues to focus on skill development, funding access, ecosystem collaboration and global outreach.
Key Initiatives Under Startup India
- Capacity building and mentorship
- Outreach and awareness programmes
- Ecosystem development events
- International exposure and global linkages
- Collaboration between startups, corporates and institutions.
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January 16, 2026, 07:00 IST
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Canada Goose reshuffles leadership to drive global growth
Those with MGNREGA cards to get work during transition to G RAM G Act – The Times of India
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