WASHINGTON – Something’s spooky about this year’s projected Halloween sales. The National Retail Federation’s (NRF) annual holiday estimates puts spending and participation down from last year’s record high, but overall average spending on Halloween has jumped 54% since 2005.

Cooler fall weather may bring cooler sales this Halloween, as fewer Americans plan to celebrate the spooktacular holiday. According to NRF’s Halloween Spending Survey conducted by Prosper Insights & Analytics, nearly 158 million consumers will participate in Halloween activities, slightly less than the survey high of 170 million people last year. Those celebrating will also trim their budgets, with the average celebrant expected to spend $75.03 on décor, costumes, candy and fun, down from $79.82 last year. Total spending on the holiday is estimated to reach $6.9 billion in 2013.

“Still one of the most beloved and anticipated consumer holidays, Halloween will be far from a bust this year,” said NRF President and CEO Matthew Shay. “After a long summer, the arrival of fall will put millions of Americans in the spirit to partake in traditional and festive activities. Retailers recognize that when it comes to Halloween, consumers’ creativity abounds. We expect retailers to stock their shelves with unique costume ideas for adults, children and pets, a variety of candy options and never-seen-before home and yard decor.”

For the first time, NRF asked when people would begin shopping for Halloween. According to the survey, nearly one-third (32.8%) of consumers begin shopping before September 30. An additional 67.2% of consumers shop in October. Specifically, 43.6% begin the first two weeks in October, and 23.6% wait until the final two weeks of the month.

Despite the anticipation of the popular fall event, one-fourth of U.S. consumers (25.2%) say the state of the economy will impact their Halloween spending plans — nearly nine in 10 (86.1%) will spend less overall, up slightly from 83.5% last year. Additionally, 32.7% will buy less candy and 18.1% will make a costume instead of buying one.