London-headquartered global media and research specialist Aegis Group lifted spirits with news that the advertising recovery has reached all four corners of the globe.

The holding company's media agency network Carat upped its forecast for global adspend over the next two years, citing strong growth in US, European and Asian markets.

Carat's previous forecast of 5.3% growth for 2004 has been revised to 5.7% and, with the recovery expected to be in full swing by 2005, next year's predicted expansion has also been raised -- from 4.4% to 5%.

The upbeat projections follow reports this spring from WPP Group and Publicis Groupe of an expected upturn in global advertising expenditure for 2004 ranging from 3%-4%.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff