The Week: Advertising news - Adspend plunges again

The latest IPA Bellwether survey has revealed record cuts in advertising spend - and its authors predict there's worse to come.

Adspend figures for the fourth quarter were revised down more than ever previously recorded in the report's nine-year history. The cuts, which mark the fifth successive quarterly reduction in adspend, are a sign of things to come, according to the survey, which warns the bad news will continue as companies set their initial budgets for the year ahead below 2008 spending levels.