Global adspend fell further than expected

Carat, the Aegis-owned integrated media agency, has revised its global ad spend growth forecasts for 2009 to a fall of 9.8%, with the UK facing a more extreme drop of 11.7%.

It originally predicted in March a global ad spend drop of 5.8% and suggested the UK would see ad spend fall of 7.1%.

Despite the revision, the media group foresees a slight return to growth of 1% globally next year, driven by more stable economic conditions in the West and recovery in developing markets, particularly China.

via Global ad spend to fall further than forecast, says Carat | News | New Media Age.