Marketing intelligence service Warc has again revised down its Australian ad spend forecast for 2013 to 2.2% growth. It previously predicted a 2.6% growth in November.
The November figure was already a downgrade from numbers released in June which had predicted a growth of 3.2%.
If predicted inflation is taken into account, the 2.2% growth prediction would represent a contraction of 0.4% in real terms.
The firm predicts global ad spend is expected to rise by 3% in 2013 and 5.4% in 2014, boosted by strong growth in emerging markets such as the BRIC countries.
However, all featured countries in the Warc report except for Japan and Brazil have seen forecast ad spend revised down since the report was last released in November.
US ad spend is expected to grow 2.2% while the UK should see an increase of 3.1%.
Warc data and journals director Suzy Young said: “With few major political or sporting events this year, global advertising spend growth was always expected to be slower than in 2012. The eurozone debt crisis also continues to depress growth both among member countries and abroad.
“To offset this, global ad spend will be reliant on a solid performance from the US and strong growth from emerging markets.”
Two weeks ago, Carat downgraded its Australian ad spend forecast to 1.5%, down from 2% earlier.
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