It took a year for economists to call the recession. Yet Madison Avenue felt the pinch earlier than most industries.
Despite an ad-rich presidential election and the Olympics, U.S. ad spending this year is expected to decline 3.8% to $172.5 billion, according to Publicis Groupe SA, as sharp pullbacks in the second half by auto makers and others put an end to routine annual gains.
SUBSCRIBE AND FOLLOW
Get top stories and blog posts emailed to me each day. Newsletters may offer personalized content or advertisements.Learn more