The agency now sees expenditure rising from $386bn last year to $403.9bn this year, then accelerating in 2006. However, it downgraded its 2006 growth prediction from 6.5% to 6.1%.
The size of the European market will be $107.9bn in 2005 and $112.6bn in 2006, an increase of 4.4%.
It has also revised its prediction for the share of advertising which will be captured by the internet, saying it has previously tended to underestimate spend. The internet's share will be 4.1% in 2005 compared with the previous prediction of 3.8%, and 4.5% in 2006 compared with 4.1%.
The agency believes that television's share of global advertising appears to be peaking at 38%, and has reduced its prediction for TV spend by $1bn in the US, $1bn in Japan and $229m in the UK. It now sees global TV spend at $148.2bn rather than $150.5bn.
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