Spending

Where is the love? Valentine's Day spending expected to drop 7.6% this year

Where is the love?

Valentine's Day spending is expected to drop 7.6% this year to $18.2 billion from last year's $19.7 billion, according to the latest annual survey form the National Retail Federation and Prosper Insights and Analytics in the United States.

It turns out that 9% fewer people plan on celebrating the occasion.

“Valentine’s Day continues to be a popular gift-giving occasion even if consumers are being more frugal this year,” NRF President and CEO Matthew Shay said.

Carmona's spending spree

Taxpayers have spent more on vacation travel for His Excellency, President Anthony Carmona and his family, than for official travel.

The Sunday Guardian obtained documents, detailing specific payments dating back to March 18, 2013, from the Office of the President.

These documents showed that the Office of the President and The President’s House spent $11.6 million on Official Entertainment, $2.9 million on Hosting Conferences, and approximately $3.4 million on Overseas Travel since that time.