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Report: Back-to-school spending to jump 33%
Shoppers are opening their pocketbooks for back-to-school spending this year. Parents expect to spend an average of $1,642 on back-to-school expenses this year, up significantly from $1,239 in 2015, according to the American Express Spending & Saving Tracker report. Parents are expected to spend more on musical instruments this ($267 vs. $194 in 2015), along with mobile devices ($172 vs. $125 in 2015).
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Consumer confidence remains high despite contentious presidential race
Not even a political slug fest can shake the current consumer. The latest Nielsen Consumer Confidence Index showed that consumer confidence in the U.S. is on the rise, despite the uncertainty and starkly contrasting rhetoric around key economic issues. Per the Index, Americans remained optimistic in the second quarter with a three-point confidence increase to 113. In contrast, the global consumer confidence index for the same period was flat at 98. Other U.S. highlights include:
