If there were any doubts that new business ground to a halt over the summer, July data settled them. Most of the month's billings action was in account consolidations, such as the $400 million AT&T Wireless account that moved to WPP Group's Ogilvy & Mather
Worldwide from Interpublic Group of Cos.' Foote, Cone & Belding. New accounts totaled only $202 million, down 77% from July 2000's total.
Billings action in July and year-to-date
see printed publication for chart
Note: Dollars in millions.