Toy market news

U.S. economy could see its fastest growth since the 80s, NRF says

The May issue of the National Retail Federation’s (NRF) Monthly Economic Review paints a picture filled with optimism for the months ahead.

Armed with current data, the NRF expects the U.S. economy to spike 6.6% this year, the biggest boom in growth since the 7.2% rise of 1984, according to NRF Chief Economist Jack Kleinhenz.

While overall growth is expected, toy industry numbers are starting to run up against difficult comps as pandemic spending during lockdown skewed the data.

Additionally, the NRF says that the latest edition of the Federal Reserve’s Beige Book affirms the acceleration of the U.S. economy, thanks to stimulus checks and tax refunds hitting bank accounts.

The NRF believes that 2021 retail sales should spike between 6.5% and 8.2% this year.

First-quarter toy industry sales numbers are expected to be released by The NPD Group any day now.