Americans are estimated to spend 5.8 billion dollars on Halloween which is a lot more compared to last year. A survey by National Retail Federation showed the single largest expense will be on costumes for children, adults and pets. Matt Shay, the federation’s chief executive says that this year people are expected to live out Halloween with more enthusiasm and that the holiday has given Americans a break from the stress of economy problems. Two out of five Americans plan to wear a costume this year, up from one-third last year, and about 11.5 percent of them will dress up their pets. Americans will spend an about $66.28 on Halloween, which includes their costume, candy, and decorations. The total has increased by 17.7% since last year. Even though Halloween is small compared to Christmas and back-to-school, it raises consumer spending to U.S. retailers. A survey showed that since many people are still scared by the economy, about 30% will cut their spending plans in candy instead of costumes. BIGresearch executive vice president, Phil Rist, said that even though Americans are excited about Halloween they are still being careful about spending. Even if how much we spend on Halloween goes back to how it was in 2008 it would still only be even with when the spending went into a downfall following the economical crisis.
What will most Americans cut their spending on?
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