Holiday spending to climb this year, analysts say

Deloitte expects increase of at least 4 percent

By Ryan Burkett - Producer
CNN Image

NEW YORK - Financial analysts are predicting a "green" Christmas this year, saying they expect retail sales to increase this holiday season.

Consulting firm Deloitte released its annual forecast Wednesday.

The firm says spending should increase between 4 and 4.5 percent from last year, with total sales between $1.04 and $1.05 trillion.

Deloitte's prediction for online sales is even more optimistic, calling for an increase of 18 to 21 percent.

The firm says stronger consumer confidence will lead to shoppers spending more money when shopping for gifts.

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