Forecast: Not So Hot Second Half After All

The media economy continues to recover from the disastrous recession, but it’s a much slower recovery than anyone expected. Yet another new advertising forecast has scaled back expectations for this year based on factors such as high unemployment, low consumer confidence and a volatile housing market. Barclays yesterday revised its full-year 2011 forecast to 1.4% growth, down sharply from a prediction of 2.9% earlier this year.