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Valentine's Day spending projected at $2.8B

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Americans are expected to spend a combined $2.8 billion this Valentine's Day, according to National Retail Federation and Prosper Insights and Analytics survey results.

Consumers are projected to spend $164.76 per person on average. That's down $32 per person from last year.

Only 24% of consumers plan to spend an evening out during Valentine's Day. NRF officials say that's the lowest percentage in the survey's history.

Read more from Fox Business.

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