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November BIN report shows ad spending down 31.6%

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New York--Ad spending was down 31.6% in November from the previous year, according to the Business Information Network report, a joint venture of American Business Media and CMR. Total ad pages were down 29% in November from the previous year, the report found. The hardest-hit segment was telecommunications, which showed a 55.3% drop in ad spending, followed by finance, business and advertising (down 45.9%). The only industry that saw an increase in ad spending was horticulture and farming, which posted a 1.6% gain from the previous year. Year-to-date ad spending was down 20.3%, and year-to-date ad pages were down 19.3%. Gordon T. Hughes II, president-CEO of ABM, said the results were not surprising, given the weak economy. He said he expects ad spending to pick up in the third quarter.
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