ZenithOptimedia revises global ad forecast down to 3.6%

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London—ZenithOptimedia revised its global ad spending forecast to a 3.6% increase for the year, down from its July forecast of 4.1%, citing a slowdown in economic growth and recent market turmoil. ZenithOptimedia also revised its global ad spending forecast for next year down slightly to 5.3% growth, from its earlier forecast of 5.9% growth. In the U.S., ZenithOptimedia projected ad spending will grow 2.2% this year, a slight increase over its July forecast of 2.1% growth. “The slowdown in economic recovery in the developed markets, coupled with rising fears of a double-dip recession, have caused some advertisers to trim back budget increases planned for the end of 2011; but there has been no sign of the canceled campaigns and sharp budget cuts that signaled the beginning of the last advertising downturn in 2008,” ZenithOptimedia said in its report.
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