ADOTAS – Carat has slashed its spending forecasts for advertising this year and next. Worldwide, it lowers its prediction this year to 4.9% growth (a 1.1% drop). Carat blames the drop on a downward spending trend in the U.S., the U.K., Spain and China.
Online advertising emerges unscathed, however: 2008 will see a rise of 23.7%, actually up from its previous projection of 23.3%. Next year, Carat forecasts an online spending expansion of 18.6%, up from its previous forecast of 17.8%.
Carat reduced its overall outlook for 2009 to 4.8% growth, down a tad from 4.9%. Most growth will occur in emerging economies in Central and Eastern Europe, Central Asia and Latin America. This year, Russia will enjoy a double-digit growth of 22.8%, China by 19.2% and Central Europe by 16.8%.