Publicis Groupe is the latest ad group to warn of disappointing growth in 2001.
“The signs of slowdown apparent in the US at the beginning of this year have been confirmed,” chairman/ceo Maurice Levy told shareholders in Paris yesterday. “There can now be little doubt that 2001 will not be a particularly good year for the worldwide advertising industry.”
Levy’s comments follow similarly gloomy predictions from Charles Scott, chairman of Cordiant Communications Group, earlier this week [WAMN: 13-Jun-01].
However, Levy also forecast that Publicis may be able to buck the slowdown after a number of recent business gains and acquisitions.
News source: Advertising Age - Daily Deadline