Expect record spending on Father's Day

Tools and appliances are expected to take about 15% of Father's Day gift spending this year. Home improvement and gardening supplies should grab another 15%.

Those stats are from the National Retail Federation's annual Father's Day Survey, which points to a record high $14.3 billion in Father's Day holiday related spending in 2016. 

Consumers are expected to spend an average $125.92 for the holiday, up from $115.57 during Father's Day 2015. (Sorry dads. Mother's Day spending was $21.4 billion this year.)

As the chart reveals, home improvement related gift ideas represent a significant chunk of planned spending. "Tools or appliances," and "home improvement or gardening supplies" each scored more than 15% of the total.

The weather watchers at Planalytics also have some relatively good news. They expect a "pleasant" Father's Day, in terms of temperature and overall weather.