Back-to-school predictions collide
July 19, 2005,
WASHINGTON -- An imminent back-to-school season has economic prognosticators working overtime to estimate how much money Americans will spend on their children this year. The outlook is not universal.
Sounding a contrary note, MasterCard said that a survey it sponsored -- conducted by Harris Interactive -- found 34 percent of parents raising students that are college age or younger expected to spend more this year than last, and one-sixth expect those costs to top $500.
Total back-to-school spending is estimated by the NRF to reach $13.4 billion this year, down from $14.79 billion last year.
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