IT'S IMPOSSIBLE TO OVERSTATE DEFLATIONARY PRESSURES:

Easing supply-chain pressures mean American consumers can look forward to their first normal holiday season in three years, industry executives and analysts say. They project full store shelves--and even deals--as retailers work through gluts in product categories from toys to furniture.

"The script has been flipped," said Steve Pasierb, president of manufacturing group The Toy Association. "From a supply-chain standpoint, it's the opposite of last year."

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