Aegis owned agency, Carat, published upgraded forecasts for global advertising expenditure in 2010 and 2011. The company is now forecasting global growth of 3.9pc this year and 4.7pc in 2011. In its last forecast in March 2010, Carat predicted growth of 2.9pc this year and 4pc next year.
The company attributed the upgrade to a faster than expected rebound in the US advertising market and continued robust growth in Asia pacific and Latin America.
“Carat’s revised global forecast adspend for 2010 and 2011 is further evidence of a rebound in advertising markets,” said Jerry Buhlmann, chief executive of Aegis Group, Carat’s parent company. “The indications are that global spending this year will rise by 3.9pc, a 1pc upward revision from the forecast of six months ago, which is a further signal of an increasingly optimistic environment.
The overall data, however, does compare against weak 2009 figures and is comprised of some significant regional
variances. “While all major markets are now showing signs of stabilisation, this is being led by a faster than expected rebound in the US and continued growth in Asia Pacific and Latin America. Western Europe continues to be slower, and is impacted by Germany and Spain which remain in negative territory.
“Overall, while the short term economic outlook remains uncertain, these forecasts are an encouraging sign.
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