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US consumers are the heroes of our economy, as consumer spending has been the main driver of economic growth for some time now. A new report shows how spending on Halloween candy is symbolic of that strength.
IHS Global Insights experts expect spending on Halloween candy to see its largest increase since 2011, rising 5.5% to hit $3.8B, Bloomberg reports. The spending is a symptom of an improving economy buoyed by a strong consumer.
"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," says IHS Global Insights director of consumer economics Chris Christopher. As it turns out, Halloween candy is a popular place for people to spend some of their extra cash. [Bloomberg]
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