While home renovation continues to be strong in this stagnant economy, people seem to be spending less on home decorating.

A study conducted for the National Candle Association found that the majority of adult women have spent less than $500 decorating their homes in the last year.

Though many home decorating budgets are tight, the study found that candles remain a steadfast decorating essential, and 74 percent of women still believe that candles are an important home accessory.

During the past year, four out of five women claim to have purchased at least one type of candle, the most popular being the jar candle. Almost half of the respondents purchased this particular type.

One explanation for the continued growth in the candle market is that many people feel candles can add a magical touch to almost any room, yet they are relatively inexpensive and versatile.

"More and more people are realizing that candles are an excellent way to spruce up any indoor or outdoor space," said Valerie Cooper of the National Candle Association. "It's easy and leaves a lasting impression."

Whatever your preference for decorating with candles, the National Candle Association reminds everyone to follow these important safety tips when candles are lit:

* Always keep a burning candle within sight.

* Keep burning candles out of the reach of children and pets.

* Candles should never be placed directly on a surface without an intervening fire resistant plate.