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This is no trick: According to financial services firm IHS, the economy could be in for a real treat this year thanks to an expected 5% boost in Halloween spending.
That’s because a year of low gas prices and better employment opportunities have helped customers feel more confident about spending their hard-earned cash. Plus, a slight dip in sugar prices have helped the cost of candy slide nearly half a percentage point.
IHS economist Chris Christopher anticipates Halloween candy sales will reach their highest level in five years as households look to spend about $30 on sweets for trick-or-treaters:
(Christopher) “You can use this as an indicator that the holiday sales this season should be pretty good. The only little hiccup is that I think consumers will be a little more focused on holiday spending a little bit after the election.”
Christopher said while shoppers were a bit spooked by election-year politics this month, with retail discounts on the horizon for the holiday-shopping season, the fourth quarter is looking a lot less goulish.
Victoria Craig, FOX News.
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