Money Matters - Simplified

retail trade group

Back-to-school shopping hits hard economy

Washington -- Back-to-school shopping for children is expected to drop 8 percent as parents react to an economy mired in recession, a study released Tuesday indicated.

The National Retail Federation study also indicated shopping for collegians is expected to dip 4 percent, USA Today reported Tuesday.

BIGresearch, which conducted the survey of 8,367 consumers for the retail trade group based in Washington, said those who are going away for school likely will spend more. However, researchers tempered their remarks by noting more young people indicated they are postponing pursuing advanced degrees or planning to live at home while attending school.