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US economy looks for christmas cheer


US economy looks for christmas cheer


US economic growth in the third quarter may have been faster than expected, but it is still way off the growth needed to create new jobs.

With exports and government spending driving the figures forward, all eyes now turn to consumers, who will be hitting the shops in their tens of millions this thanksgiving weekend, when most christmas spending takes place.

Consumer spending has already rebounded, up 2.8 percent from July to September, but Christmas is all about toys.

So the Toy Industry Association has revealed the nominee for 2010’s Toy of the year award. It is a mixture of old favourites revisted, film tie-ins,and simple toys, which are expected to do well this year.

“You’ve seen a lot of price wars among the retailers already in toys and that’s because what those retailers want to do is they want to use these toy products to bring people into their stores at a price they can afford. We support that, we celebrate that because it menas ther will be more toys in kid’s hands this holiday,” says the association’s president, Carter Keithley.

Technology is being used to boost the appeal of bestsellers like Scrabble, which has gone digital, or Barbie, who gets a camera. A Justin Beiber doll does not need a high-tech fix, as girls will all want to get their hands on him.

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