I was so struck by the upbeat mood at Toy Fair that in my blog posting “Toy Fair 2012: Animal Spirits” that I wrote: “I think it may mean that the economy is stronger than we think and that what happened at Toy Fair maybe a leading indicator of an uptick in the nation’s economic recovery. I hope I’m right.”
Well, it looks like I may have been right. In a New York Times article, “Economy Shows Solid Job Gains For a 3RD Month” the opening paragraph contained these words: “three consecutive months of solid employment growth have begun to lift the mood of consumers and the unemployed.”
The article by Shaila Dewan went on to state: “The economy added 227,000 jobs in February, the Labor Department reported Friday, and though the unemployment rate held steady at 8.3 percent, that was largely because nearly half a million people had joined, or resumed, the search for work in hopes their prospects had improved.”
The article went on to note an increase in manufacturing and in consumer confidence. I think at the Javits Center we were seeing an increase in retailer confidence.
Over the last few week, I have had numerous conversations with people in other industries (everything from textiles to fine arts) and, at least anecdotally, they are seeing a loosening of pocketbooks. Will the comeback in the US continue and will it take hold in Europe? One good sign this week was what appears to be a resolving of the Greek debt crisis.
Keep your fingers crossed. Things are looking up.