For more insights and key statistics on the biggest trends in today's most disruptive industries, subscribe to our Chart of the Day newsletter.
The cost of school supplies is weighing heavily on US parents. Between May and June, 40% of those planning to do back-to-school shopping considered it a significant concern in their budget, compared with 30% last August. Meanwhile, 19% said they could not afford it, up from 14%.
Beyond the chart: These figures will likely grow as the US economy continues to shrink. GDP fell by 0.9% in Q2 2022, marking two consecutive quarters of decline, an indicator of a recession. While economists are torn over the severity of this downturn, consumer confidence remains low, and without stimulus checks, parents face a difficult back-to-school season.
More like this:
One Liberty Plaza9th FloorNew York, NY 100061-800-405-0844