The Week: Advertising News - Marketing spend plummets

Marketing spend fell by more in the last quarter of 2007 than at any time in nearly two years, according to the IPA's latest Bellwether Report.

Its authors blamed weaker-than-expected sales revenues, disappointing profits and concerns about the economic environment for the cuts, which affected both above- and below-the-line budgets. Internet advertising showed its lowest budget rise since the third quarter of 2003.