Teen spending falls to lowest level since 2011

National

(FOX NEWS) — Teenagers may now have more money in their pockets.

This, according to Piper Jaffray’s 38th biannual “Taking Stock with Teens” report.

Data from the investment banking company reveals teenagers are now spending 10 percent less than they did in the spring of this year.

Their current spending is also down four percent from last fall’s numbers.

Analysts say the average teen spends a little over $2,300 each year.

Research shows this is the lowest amount of money generation-z has spent annually since 2011.

The study also found one-third of teenagers say they think the economy is getting worse but, when they do spend financial experts say food is the number one thing they will purchase.

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