The World: New York - Adspend drops 1.4 per cent, with auto hardest-hit

Advertising spending for the first half of this year fell to $67.6 billion, a drop of 1.4 per cent compared with the same period a year ago, according to figures released by Nielsen Monitor-Plus.

Within specific categories, the automotive and pharmaceutical sectors continued to struggle, falling 8 per cent and 5 per cent respectively. Auto dealerships were also down 1 per cent, spending $2.2 billion in the first half of this year.

By media sector, spot radio, local newspapers and network TV all recorded major losses, but cable TV, with generally cheaper ad rates, posted an 8 per cent increase on the first half of 2007.