But after this year's presidential
'Fairly average growth'
"It looks like fairly average growth," said Jonathan Barnard, ZenithOptimedia's knowledge management manager. "We're not talking about a surge after the large decline [in ad spending growth] between 2001 and 2003, unfortunately."
The company also cut earlier estimates of 3% growth for 2003, saying U.S. ad spending last year grew less than expected, by just 1.9%.
The quarterly update covered the eight ad markets in Europe, North America and Japan that account for 75% of worldwide ad spending. The eight are forecast to grow 4.2% in 2004, and 3.4% next year, ZenithOptimedia said. The brightest spot is Japan, the world's second-largest ad market. After ad spending growth of just 0.8% last year, ZenithOptimedia forecasts 1.5% growth this year and 2% next year for the country.