Easter spending to hit $16.8 billion

The National Retail Federation is forecasting that Americans will spend nearly $17 billion this Easter holiday, led by sales of spring apparel, food and - what else? - candy.

The result of the NRF's survey is welcome news for retailers, as it's predicting a rise of about $2 billion from last year's Easter spending.

Average consumer spending is predicted to be $145.28, the first year above pre-recession levels. Clothing and accessory spending is forecast to total $3 billion, candy spending is forecast to be $2 billion, and spending on food for Easter meals is forecast to be a whopping $5.1 billion.

There are more details in the NRF report linked to above, but the basic takeaway seems to be this: High gas prices aren't holding back consumers, who are ready to spend more as the economy slowly improves.