The World: New York - Adspend slows as economy in the US falters

Adspend in the US rose by just 0.6 per cent during the first three months of the year, as a slowing economy shattered media companies' earlier bright hopes for 2008.

Spanish-language media and heavy spenders, such as PepsiCo, are the major bright spots, according to the analyst TNS Media Intelligence.

However, the country's ten biggest advertisers, half of which boosted their budgets, accounted for only a 1.6 per cent increase.

Spending on the top ten ad categories fell by 1.8 per cent. Even internet display ads, which had been posting the biggest growth rates, tapered off to 8.5 per cent.