Halloween Spend a Treat for Economy...

Consumers planning to dole out sweet treats to dressed up trick-or-treaters are predicted to spend 5.5% more on Halloween candy compared to last year, bringing the anticipated total spend to $3.8 billion – or $30.60 per household. If realized, it would be the most robust growth rate since 2011, according to data from IHS Global Insight. The firm calculates Halloween candy spending as estimated seasonally-adjusted October personal consumption expenditures on candy and chewing gum.

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The reason for the added spooky spending is simple: Consumers continue to feel confident about the overall economic outlook, and are willing to stretch their pocketbooks a little wider. Consumers have been doing much of the heavy lifting for the economy so far this year, and Halloween spending isn’t expected to be any different, said Chris Christopher, IHS director of consumer economics.

“Overall, real consumer spending has been relatively strong since last Halloween due to modest consumer price inflation, low gasoline prices, better employment opportunities and improved household finances,” he explained.
By Victoria Craig Published October 28, 2016 Economic Indicators FOXBusiness
http://www.foxbusiness.com/features/2016/10/28/no-tricks-higher-expected-halloween-spend-treat-for-economy.html