The Ad Spend Outlook 2022/23: Impacts of The Economic Slowdown

A summary of WARC's latest global advertising investment forecasts for 2022 and 2023.

Don’t use the ‘R’ word

In its briefing note last month, the International Monetary Fund (IMF) stated that global economic activity had contracted in the second quarter of 2022 and, as a consequence, it had reduced its baseline outlookfor the year by 0.4 percentage points (pp) to +3.2%. The Fund also cut 2023’s growth prospects – by almost twice as much – to a rate of +2.9%. Both projections are approximately half the rate of expansion seen in 2021 (+6.2%) and are predominantly reflective of stalling growth in three economic areas which account for 60% of global output: the US,...

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