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NEW YORK — The economy may be in for a positive jolt if back-to-school spending rises by the 16% predicted by the National Retail Federation (NRF).
The NRF, citing consumers surveyed by BIGResearch, said families with students plan to spend about $55.1 billion, compared with $47.5 billion a year earlier. The B-T-S season represents the second-largest sales period after the year-end holidays.
This year, the average family with students in kindergarten through 12th grade may spend $606.40, up from $548.72 last year, for a total of $21.4 billion, the Washington-based NRF said. College spending probably will amount to about $33.8 billion.
Separately, the International Council of Shopping Centers (ICSC) said sales at stores that sell family clothing, shoes, electronics and books will jump 5.4% in the July to September period from a year ago, when they declined 2.8%. That would be the best showing since 2005.
Excluding some chains like Walmart, sales at stores open at least a year at the more than 30 retailers the ICSC tracks will climb 3% in July through September, the most since 2006.
