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Despite solid growth in the first half of 2022, global ad spend forecasts for the remainder of 2022 and 2023 are being downgraded as marketers take a “glass half full” approach to budget planning.
Numbers released today from the U.K’s Institute of Practitioners in Advertising (IPA) reflect concerns around a cost of living crisis and a looming global recession. Last week, Dentsu also downgraded its ad spend forecast, saying the expectation of rising inflation would affect consumer demand.