Americans expected to spend over $20 billion for Father’s Day this year

CNN– Father’s Day is this Sunday, and a new report indicates it could be a record in terms of how much people spend on gifts for Dad. The National Retail Federation is predicting that consumers will shell out upwards of $20 billion. That would be the most Father’s Day spending on record and considerably more than last year’s $17 billion.

The National Retail Federation also says those surveyed are planning to spend an average of $174 on Father’s Day items.