Clouds gather around Western Europe ad market
Two media agency forecasts have warned of a slowdown in adspend in Western Europe this year as drops in Spain and Italy offset growth in the UK.
Interpublic's MagnaGlobal intelligence unit is the more pessimistic of the two, predicting a 0.2% decline for the region in 2012, after revising its December forecast of 1.1% growth.
Publicis Groupe's ZenithOptimedia has cut its March outlook of 1.5% growth to 0.4% growth.
The Spanish market is in dire straits, with MagnaGlobal expecting a drop of 8.4% and "the fourth year of downturn in the last five years", and Zenith forecasting a drop of 12%.
MagnaGlobal has now predicted Italy will also go into reverse, which is backed up by ZenithOptimedia's forecast of a 5% drop.
However, the UK is tipped by both agencies to escape the gloom on the continent.
ZenithOptimedia pegs the country's growth this year at 3.5%, down slightly from its 3.7% prediction in December.
MagnaGlobal has gone for 2.4%, commenting that the two big events of 2012, the Queen's Diamond Jubilee and the London Olympic Games, have proven even stronger than anticipated.
Optimism remains the prevailing mood at the global prediction level, although ZenithOptimedia has downgraded its forecast from 4.8% in March, to 4.3%.
Follow Daniel Farey-Jones on Twitter @danfareyjones
This article was first published on mediaweek.co.uk
- Senior Digital Designer Twist Recruitment £35000 - £42000 per annum + benefits, City of London
- Online Sales Manager Ultimate Asset £25000 - £35000 per annum + Excellent Commission Potential, London
- Agency Sales Manager Ultimate Asset £23000 - £27000 per annum + Amazing benefits, London
- Agency Account Manager Ultimate Asset £27000 - £30000 per annum + Excellent Commission Potential, London
- Account Managers and Executives Needed Ultimate Asset £23000 - £25000 per annum + Excellent Benefits, London
- Google becomes major UK advertiser after boosting spend by 50% in 2013
- Unilever pilots multi-brand advertising with YouTube beauty channel
- Sorrell says Publicis / Omnicom's 'merger of equals' is 'impossible'
- Gatwick rolls out 'guess the X-ray' competition
- Dove launches first cinema campaign with 'real beauty' sequel
- iProspect appoints chief media officer among four senior hires