New York—Citing a strong second quarter and generally improving economic conditions, Pivotal Research Group revised its U.S. ad spending forecast to 1.8% growth this year, up from an April forecast of 1.4% growth.
In the second quarter, U.S. advertising expenditures were up an estimated 1.7% over the same period last year, compared with Pivotal's earlier projection of 1.0% growth for the quarter.
National TV advertising is now expected to increase 3.1% this year, up from an earlier forecast of 2.7% growth. National digital media spending is expected to surge 19.2% this year, compared with an earlier forecast of 14.5% growth, according to Pivotal.
The forecast also points to a deceleration in paid-search spending, which is now expected to increase by 10.2% this year, down from Pivotal's April projection of more than 12.0% growth.