NEW YORK -- With another Tickle Me Elmo, this could be a smiling year for the toy industry. In any event, projections for 1997 are that toys should continue to sell at the modest level set last year. "I anticipate that traditional toy and game shipments for 1997 will continue to grow in the 3% to 4% range, and that retail sales next year will top $21 billion," said George B. Volanakis, chairman of the Toy Manufacturers of America, the industry's trade association, based here. He spoke Feb. ...

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