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In March 2009, industry new business was up 3 percent against a 56 percent decline in the year-earlier month, but down 32 percent on a rolling 12-month basis, according to research from Nomura International.
Nomura analyst Matthew Walker noted that last month had one of the weakest early comparative time periods with 2008. He said industry performance last month was 46 percent below the new-business average for March in the past three years.
According to Walker, Omnicom Group won the most new business last month, with $97 million in net wins from marketers like Reebok, Soy Joy, Glidden and Philips.
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