Business Services Industry
Ad spending slows down; Merrill Lynch, Blackfriars reports don't bode well for marketeting expenditures.(Advertising)
B to B, November, 2006 by Maddox, Kate
Byline: KATE MADDOX
Citing an economic slowdown, a slump in tech spending, higher oil prices and other factors, several research firms lowered their ad spending forecasts.
Merrill Lynch last month changed its global ad forecast this year from 4.9% growth to 4.3% and, for 2007, from 4.1% growth down to 3.5%. For the U.S., Merrill Lynch lowered its ad forecast for this year from 5.1% to 4.7% growth, and from 3.5% growth down to 2.8% for 2007.
"Advertising growth seems to be tracking real GDP growth instead of nominal GDP growth, as it did in the past,'' Merrill Lynch lead analyst Lauren Rich Fine wrote in the report.
"This supports our belief that media no longer enjoys the benefit of above-average rate inflation; rather, the opposite,...
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