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JPMorgan lowers online display advertising forecast

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New York—Citing the worsening economy, JPMorgan Chase lowered its forecast for online display advertising in the U.S. to $8.2 billion this year, down from an earlier projection of $8.6 billion.

JPMorgan projects online display advertising will total $9.4 billion in 2009, down from an earlier forecast of $10.0 billion.

It also lowered its forecast for search advertising. Search is now expected to grow 27% this year, down from an earlier projection of 32%. Next year, search is forecast to grow by 26%.

—Kate Maddox

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