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
- Head of UX & Digital Design Director MCG Associates tax free competitive package, Dubai (Emirate) (AE)
- Ad Ops Manager - Leading Agency GoodEgg Digital £Neg + Great Benefits, South East England / London (Central), London (Greater)
- Community Manager/Account Manager Blue Skies Marketing Recruitment £25000 - £30000 per annum, London
- Head of Retail Brands Stopgap £110000 per annum + pro rata - 2/3 month contract, London
- Mid-Weight Designer Blue Skies Marketing Recruitment £25000 - £30000 per annum, Hertfordshire
- KitKat's mocking Apple tweet outperforms Oreo's Superbowl
- Social Media Week: what social media has taught us
- TfL launches selfie campaign to encourage people to get home safely
- Argos releases alien swan song ad
- Branded Content sends messages ads cannot, Diageo boss says
- 13 ways to create a winning print ad