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Chase: Book spending rose in Q3


Waterbury, Conn. –- Likely spurred by back-to-school needs, consumers increased their spending on books 13% in the third quarter of 2014 compared to the same quarter the prior year. According to the quarterly Chase Freedom Lifestyle Index quarterly barometer of consumer trends based on aggregated Chase Freedom cardholder spending data, spending at craft stores (up 7%) also rose significantly in the quarter.

Meanwhile, drops in movie theater (-25%) and toy (-10%) purchases were drivers of spending decreases in the same year-over-year period. Grocery spending also experienced a 1% dip compared to the year prior, as consumers may have been deterred by higher food prices brought on by drought across the country.

In other back-to-school-related patterns, the Index shows shoppers stocked up on office supplies (+45%) and consumer electronics (+9%) between July and Aug. 2014. Sporting goods spending rose 8% in that period.

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