Global market research firm Warc has downgraded its forecast for growth in advertising spend in 2013 from 3.6% to 2.1%, but has predicted 4% growth globally.
In comparison to predictions from August last year, Warc has downgraded its forecasts for all countries except Brazil, but expects positive growth nonetheless in most countries. Only Italy and Spain will see negative growth in adspend.
Warc has predicted global adspend will rise more rapidly in 2014, increasing 5.5%.
Meanwhile, the firm has downgraded its global predictions for all media. However, negative growth will only be seen by magazines and newspapers.
Warc data editor Suzie Young said: “In 2012, the industry benefited from the Olympics and the US presidential election.
“In 2013, we're all keen to see how advertising holds up without these quadrennial factors.
“There are still risks for global economic growth. Marketers are not ready to adjust their cautious approach just yet.”
Warc's figures are based on a weighted average of adspend predictions from ad agencies, media monitoring companies, analysts, industry bodies and Warc's own analysts.
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