Halloween Sales Won’t BOOm This Year

The National Retail Federation reports that total spending for Halloween this year will be $6.9 billion, down from the $8 billion spent last year on costumes, party items, treats and holiday-related stationery and other items.

Also down slightly is the number of Americans – 158 million – who will celebrate the holiday. A year ago, that number was 170 million.

The trade association blames the slight decline on higher payroll taxes and mediocre job growth that are causing consumers to tighten their budgets.

We’re living in an “either/or” economy, NRF president and ceo Matthew Shay told CNBC. “Consumers may purchase big ticket items or discretionary items, but not both. For the 25 percent of adults who said the economy will impact their spending plans, the haunted holiday may not make the cut this year.”