CONSUMER BRIEFS / HOLIDAYS

Valentine’s Day celebrations will probably be less fancy this year as a global recession spurs consumers to cut spending on their loved ones.

U.S. consumers plan to spend an average of $102.50 on Valentine’s Day items, 17% less than last year’s $122.98, according to a survey by the National Retail Federation and BIGresearch. Total spending will reach $14.7 billion, they said.

Consumers will buy less jewelry and send more greeting cards, according to the survey. More than a third of people will buy flowers, about the same as last year. The survey polled 8,850 consumers Jan. 1-8.