NEW YORK CITY—With all due respect to Elvis Presley, retailers could be in for a green Christmas this year rather than a blue one, according to holiday sales forecasts. Fung Business Intelligence Centre’s Deborah Weinswig predicts an increase of 3% to 4% in consumer spending during November and December, in line with the International Council of Shopping Centers’ recent report that more Americans plan holiday-related purchases this year, for a year-over-year increase of 3.3%.

Executive director and head of global retail & technology at FBIC, Weinswig projects holiday spending levels between $626 billion and $633 billion this year. “Although the growth rate may be slightly lower than the 4% recorded in 2014, it is still within range of holiday spending growth rates recorded each year since 2012,” she writes.

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