Citing steeper declines in the U.S. and Western Europe, Zenith Optimedia again slashed its forecast for ad spending around the world this year, according to a story in the Wall Street Journal.
Zenith Optimedia reduced its forecast for global ad spending in 2009 again, predicting spending will sink 6.9% to $453.2 billion, according to a story in the Wall Street Journal.
The story says U.S. ad outlays will drop 8.7% to $156.9 billion.
Zenith had previously lowered its 09 spending forecasts in December, predicting a global decline of 0.2%, with a 6.2% decline in the U.S.
WSJ Online subscribers may read the full story here.