Going Negative

With no improvement in sight for the rapidly deteriorating U.S. economy, media-agency executives and their clients are now bracing for possibly two consecutive years of curtailed ad spending — this year and next.

Forecasters at media shops including Zenith Optimedia and Magna made initial predictions late last year for advertising expenditures in 2008, but quickly began scaling back their estimates. The projections weren’t that rosy to begin with — predicting percentage gains in the mid single digits, not great for a year with the Summer Olympics and a presidential election.

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