McCann's Coen hikes '98 forecasts

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McCann-Erickson Worldwide forecaster Robert Coen said ad spending in 1998 is on its way to beating his rosey forecasts made in December. He predicted U.S. ad spending will rise 6.8% to $200.3 billion in 1998, up from his earlier forecast of a 6.2% gain. He said spending outside the U.S. in 1998, while it continues to be adversely affected by the Asian economic crisis, will grow 4% to $218.4 billion. For 1999, based on continued economic health in the Americas and Europe, he predicted 6% growth in U.S. ad spending and 4.5% growth in ad spending overseas.

Copyright June 1998, Crain Communications Inc.

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