Forecast lowered for growth in ’08

A leading advertising forecaster lowered expectations for ad growth in 2008 for the second time in two months but said a mild recovery should begin late next year.

ZenithOptimedia now expects global growth of 1.3% this year over 2007. In October, the British ad company had forecast growth of 4.3%, which itself was a reduction from the June forecast of 6.6%.

For 2009, ZenithOptimedia now expects a 0.2% reduction in ad spending, not the 4% growth projected in October.