The University of Georgia’s Selig Center for Economic Growth projects that U.S. Latino buying power will increase from an estimated $580.5 billion in 2002 to $926.1 billion by 2007, at which point Latinos will account for an estimated 9.4% of U.S. buying power. U.S. Latinos spent an estimated $162.7 billion on apparel in 2002, up 11.1% from 2001, according to research firm The NPD Group. Each Latino household spent an average of $1,857 on apparel in 2001, compared with $1,745 for white households and $1,729 for African-American households. Contributing to this figure are Latino teens who apply most of their $19 billion in spending power toward clothing and jewelry. Source: The Multicultural Economy 2002: Minority Buying Power in the New Century, GBEC (Georgia Business and Economic Conditions), Second Quarter 2002 Source: Getting into the Latin Groove, WWD, 15 May 2003; Association of Hispanic Advertising Agencies, 2003