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NEW YORK — The International Council of Shopping Centers said it expects holiday sales to increase 3 percent this year. That’s a slower pace than the 4.1 percent gain in 2010, as many shoppers are expected to remain worried about the economy.
The trade group for shopping malls said Friday that November-December spending should reach $250.2 billion, the highest since the 2007 peak, when spending totaled $251.7 billion. The rise would mark the second consecutive increase for the holiday shopping period following two straight seasons of revenue declines in 2008 and 2009.
