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No Upturn for Ad Industry
According to a recently released report by Zenith Optimedia no significant improvement for the advertising industry is expected until 2004.
The report predicts a further decline in advertising spending this year of 0.5% following the drop in 2001 of 3.8%. It is not until 2004 that advertising spend is expected to reach similar levels to those experienced in 2000.
Zenith predicts that the UK market will witness an overall decline of 1.3% for the year, whilst the European market, which Zenith had predicted would grow by 1.7% this year is now expected to contract by 0.7%. In the US Zenith forecasts that the market will decline by a further 1.2% this year, on top of last year's fall of 6.1%.
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