LONDON: Global adspend will fall by 5.9% this year at current prices, based on a weighted average of recent predictions from advertising agencies, media owners and industry associations provided in the latest WARC Consensus Forecast.
This marks a revision from the decline of 0.2% predicted in the last Consensus Forecast, which is produced by aggregating data provided to WARC by a number of advertising and media companies on the condition of anonymity, meaning further information cannot be released.
US adspend is now projected to decline by 7% in 2009, compared with the drop off of 4% that was expected just a month ago.
By contrast, the consensus growth rate for India now stands at 8.4%, with individual companies pegging the annual uplift at between 6% and 14%.
China, where the market was forecast to expand by 12% a month ago, is now anticipated to register an annual upturn of just over 7%.
Japan's advertising market is set to contract by 6.1% this year, with revenues in Asia Pacific as a whole also likely to shrink by 2.4% over the course of 2009 as a whole.
Spain and the UK are likely to be the hardest hit European nations, with adspend tumbling by 9.9% in the former and by over 7.9% in the latter this year.
Germany will also be down by slightly over 2%, and France by around 3%, while Russia will experience a reversal of 6.3%.
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Data sourced from WARC Consensus Forecast