Ad pages for the first five months of 2003 were down 4.4% compared with the same period last year.
Ad spending, as calculated by TNS Media Intelligence/CMR for ABM, was down 1.1% in May 2003 compared with May 2002. Spending was up 0.7% for the first five months of this year compared with the same period last year.
Nonetheless, Gordon Hughes, president-CEO of ABM, remained upbeat, saying in a statement: âItâs been a tough two-and-a-half years for our industry, but we do share some cautious optimism for the near future. We expect an uptick sometime around September, and we are still comfortable with our projection of 3% growth in ad spending for the year. Weâre also estimating single-digit growth in early 2004.â