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Aegis Group’s Carat said today that both global and U.S. ad spending would be substantially worse for full-year 2009 than it had previously forecast.
Now, the shop says, global expenditures will drop almost 10 percent. In March, the agency forecast a global spending drop this year of roughly 6 percent.
Carat said the revised outlook was “due to significant reduction of forecasts in all regions, with the exception of Asia Pacific, where the 2009 forecast has been revised marginally upwards.”
Meanwhile the global outlook for 2010 is slightly positive, with the shop predicting a 1 percent gain, driven by “much more stable conditions in the West and recovery in developing markets, particularly China.”
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