Halloween Could be a Bright Spot for the Economy

Halloween may be just what Americans need to get their minds off of economic turmoil. This dark holiday could be a bright spot for the economy. Check out these statistics from a recently released survey from the National Retail Federation:

* More consumers plan to celebrate the holiday this year– 64.5% verses 58.7%.
* The average person plans to spend $66.54 on Halloween items, up from $64.82 in 2007.
* Total Halloween spending is expected to reach $5.77 billion.
* Consumers will spend an average of $24.17 on Halloween costumes (for adults, children and pets).
* The average person will spend $20.39 on candy, $18.25 on decorations and $3.73 on greeting cards.
* Young adults, ages 18-24, will spend the most with the average person shelling out $86.59 on costumes and candy.

So why the increase in spending on Halloween this year? Tracy Mullin, NRF President and CEO says, “Consumers–who have been anxious and uncertain for the past several months–may be looking at Halloween as an opportunity to forget the stresses of daily life and just have a little fun.”

Photo Courtesy of hanna_horwarth