Americans spend Halloween with open wallets more than for the midterm campaigns and elections.

Americans spend Halloween allotting money for candy, costumes, and decorations for the fun and spooky season for the kids and grown-ups alike. The projected amount Americans spend in Halloween this year is $7.4 billion almost twice the campaign spending of all the midterm races campaign combined.

According to National Retail Federation, the projected amount of American Halloween spending makes about a $77 for each person. The Americans spend Halloween costumes about $2.8 billion, for Trick-or-Treat candies about $2.2 billion and almost as much in decorations.

Kathy Grannis, a spokesperson for the federation told CBS MoneyWatch that the behavior of Americans spends Halloween should be viewed in the light of the holiday itself and not attributed as an economic indicator.

"I think the slight increase in Halloween spending is more attributable to the fact that the holiday has grown in popularity so much over the past few years than the fact that we're on the fast track to a healthy economy," Grannis added. 

Another interesting bit of information is that consumers this year spent $1.4 billion on adult costumes which is more than the $1.1 billion projected spending on children's costumes. The Halloween landing on a Friday night must have delighted adults to join parties and events for this holiday.

Americans spend in Halloween is wittily presented in an infographic featured in an article by Forbes showing the three most popular costumes for this year: witches, animals and Batman characters. Pet owners spend $350 million for their pets' costume and 162 million people were expected to celebrate Halloween in the U.S. this year.