While recovery is still predicted in the report from Interpublic's media buying network Universal McCann, it is not as great as hoped at the end of 2001.
In his Insider's Report, Universal's director of forecasting predicts that advertising spend will increase by 2.1% this year to $236.2bn (拢152.6bn). The prediction is down on the 2.4% Coen forecast when he published his last report in December 2001.
"The stock market does make me nervous, and there are a lot of companies that are watching for profit levels and becoming more cautious," said Coen.
According to his report, an increase in political spending in the second half of the year, along with movie and restaurant advertising, while food, drugs and toiletries will see spending decline.
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