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Initiative Media forecasts increase in global ad spending

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Paris--Initiative Media Worldwide, a member of the Interpublic Group of Cos., issued a report Wednesday forecasting global advertising expenditures will total $262 billion in 2003, an increase of 4.5% over 2002. In 2002, the report showed that global ad expenditures grew 0.9% over 2001. Ad spending boosts in China will account for 1.6 percentage points of the 4.5% increase in spending forecast for 2003, according to the report.
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