Consumers Opening Up Wallets for 4th of July

NEW YORK -- More than 153 million Americans will spend $6.2 billion to observe the Fourth of July, the National Retail Federation estimates based on its Independence Day survey.

They will spend of $68.16 per household on average on food. This is the first year the federation asked about spending plans on food items.

While the majority will spend the day around a picnic table, many will also attend a fireworks display or community celebration (105 million) or a parade (27 million).

Plans for each of those activities declined from last year, but an increasing number is taking advantage of the three-day holiday weekend: 13.7%, or a projected 32 million, plan to take a vacation, the highest in the history of the survey.

Although gasoline prices continue to rise, holiday travelers seem relatively unfazed. More than 70% of respondents say their spending for the Fourth of July will not be affected by prices at the pump, up from nearly 65% a year ago.

Published by The Business Journal, Youngstown, Ohio.
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