August ad spending fell 3.5% compared with the same period last year, and pages declined 6.3%. Year to date, spending was down 0.2% and pages were down 4.1%.
âWhat weâre hearing from our members is that early fourth-quarter results are not as strong as expected. Weâre now estimating 1% to 3% growth in ad dollars for 2003," said Gordon Hughes, president-CEO of ABM, in a statement.
Ad pages grew in only two of 12 categories in August. Services, direct response & classified was up 2.4%, and drugs & toiletries was also up 2.4%. Manufacturing suffered the biggest drop, down 22.4%.