Group M cut its projected 2012 global ad spending 1.2 percentage points, saying it now expects a 5.1 percent increase to $506.3 billion in measured media, down from the 6.3 percent hike forecast last December.
"We attribute the decline in U.S. ad spending to a number of factors, including the loss of economic momentum, the global deterioration from all continents but particularly the Eurozone, and political and fiscal uncertainty at home for the election and beyond,” GroupM chief investment officer Rino Scanzoni said in a statement.
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