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(Aug. 17, 2001) STOCKHOLM -- More than 70% of ad agencies in Sweden expect a downturn in advertising spending in 2001 following last year's bumper year buoyed by dot-com marketing and major campaigns backing the launch of a new nationwide pension system.

"Many advertisers have cut their budgets in the spring. The downturn mainly affects strategic brand advertising. There is no sign that marketing investments which were postponed in the spring will be made in the autumn instead," said Johan Hedsio, CEO of CIA Worldwide here.

Lars Sodergren, CFO of the media bureau Carat Sweden, agreed: "We had a substantial downturn in May, and we actually feel that the situation will stabilize in the autumn, but at a lower level than was the case in 2000." -- Gerard O'Dwyer

Copyright August 2001, Crain Communications Inc.

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