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In brief: PREIT: Most don't plan to decrease spending for holiday season

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Philadelphia-based Pennsylvania Real Estate Investment Trust said a survey on its behalf found 85 percent of Americans plan to increase or maintain their overall holiday gift spending this year.

The Harris Interactive study, which was conducted this month among more than 2,000 U.S. adults, also found 88 percent of people like to see and touch products before buying, PREIT said in a news release.

More than half of Americans age 18 to 34 expect to continue to enjoy the holiday mall experience, the release stated.

"Survey findings confirm malls are a central, exciting destination for Americans during the holiday season," PREIT CEO Joe Coradino said in a statement.

The firm specializes in owning and managing differentiated retail shopping malls and recently sold the Chambersburg Mall in Franklin County.

The portfolio also has included York County's North Hanover Mall, which PREIT said during quarterly earnings statements was under contract for sale.

Shares of the firm are traded on the New York Stock Exchange under the ticker symbol PEI.

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