Ad spending forecast to slow to 2.5%, lowest in a decade

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New York--One of the advertising industry's leading forecasters now predicts that ad spending growth will slow to its lowest level since the 1991 recession. In his annual mid-year forecast, Robert Coen, senior VP-McCann-Erickson WorldGroup, cut his 2001 ad spending growth outlook to 2.5%, due to the significant slowdown in major consumer media. National spending will grow 2.1%, to $151.26 billion, and local advertising will grow 3.1% to $98.54 billion, resulting in a total of $249.8 billion in ad spending. Ad spending in national magazines and newspapers will grow just 1%, according to Coen.
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