The World: New York - Signs of economic joy despite report findings

US agencies are beginning to show signs of optimism after a survey of 200 marketing and 100 advertising agency executives revealed that almost half felt that the economy has already hit rock bottom and would start to improve over the rest of the year.

However, a report issued by the Interactive Advertising Bureau has stated that online adspend fell by 5 per cent in the first quarter of this year, with the figure representing the lowest online adspending level in nearly two years.

The report follows news that eMarketer has revised its 2009 online adspending growth projection from 8.9 per cent to 4.5 per cent.