Tricks and Treats this Halloween

October 17, 2013 Updated Oct 17, 2013 at 3:18 PM EDT

By Elizabeth Carey

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October 17, 2013 Updated Oct 17, 2013 at 3:18 PM EDT

BUFFALO, N.Y. (WKBW) - There is a mix of tricks and treats when it comes to spending this Halloween.

The National Retail Federation says 158 million Americans will celebrate the holiday. That's down slightly from last year's high of 170 million people. Researchers say total spending on costumes, treats, festivities and more will reach $6.9 billion, compared to $8 billion last year.

Reasons for the decline? The NRF says higher payroll taxes, a weak economy and mediocre job growth are causing consumers to tighten budgets. The NRF poll finds 25% of adults admit the economy is impacting their spending plans.

But there's no reason to be spooked. Average spending on Halloween is still up 55 percent since 2005 and this year's spending forecast is slightly higher than 2011.

Here's a look at how the spending adds up. This year, consumers are expected to spend $2.6 billion on costumes and nearly $2.1 billion on candy. Almost $2 billion will go toward decorations, second only to Christmas.
$360 million will be spent on greeting cards
and it will take $330 million to dress up four legged friends in pet costumes.