Deloitte: Due to economic concerns, back-to-school spending in the United States will decrease by 6%.

According to a survey released by Deloitte on Thursday, as economic uncertainty intensifies leading to weakened consumer confidence, spending by families with school-age children in the United States during the back-to-school season this year is expected to decrease by about 6%. The consulting firm stated that total spending is estimated at $30.4 billion, with an average of $557 per K-12 student, lower than last year's $570 per person. The survey found that 57% of consumers expect the economy to deteriorate in the next six months, the highest level since 2020. Deloitte stated that families are expected to prioritize purchasing essentials such as clothing, while cutting back on buying technology products. About half of the surveyed families plan to reduce spending on dining out and entertainment in order to free up budget space for school-related purchases.