A new survey by consultants Deloitte & Touche LLP, inaffiliation with the National Retail Federation, says 77% ofAngelenos expect to spend as much or more on holiday gift-givingthis year as they did in 1999. Nationwide, the figure is an evenstronger 80%.

The bullish forecast of yuletide joy for consumers and retailersalike results from several factors, says Richard Giss, a partner inthe Consumer Business Practice Group of Deloitte & Touche's LAoffice. "Consumers nationally and in Southern California have afairly positive outlook, reflecting a solid economy, a very strongjob market, rising housing prices and low inflation," Gisssays.

Despite the cheery sales forecast, there are a few dark cloudson the horizon. Though a separate survey of retailers found theyexpect holiday sales to be up a healthy 4.5% from a year ago; 20%of Angelenos say they'll spend less this year than last--in partbecause higher gas prices are cutting into their disposableincome.