Global advertising spend (based on trends in 12 major markets) will increase by 3% this year and 5.4% next year, predicts Warc [PDF] in a new forecast. However, taking into account forecast inflation provides a duller forecast for global ad spend growth, at just 0.6% this year and 2.4% in 2014. This year’s 3% forecast growth (at current prices) follows from 3.8% estimated growth (also at current prices) last year, with the slowdown mainly due to political and Olympic dollars exiting the market this year along with continuing global economic concerns.
The forecast for 3% growth this year represents a downgrade from a projected 4% increase made just a few months ago, which in itself was revised downwards from a 4.9% growth forecast in August last year. Of the 12 markets examined, just 2 (Japan; +0.3%) and Brazil (flat) have not seen a downgrade since the most recent forecast. Read the rest at MarketingCharts.