Clouds gather around Western Europe ad market

Two media agency forecasts have warned of a slowdown in adspend in Western Europe this year as drops in Spain and Italy offset growth in the UK.

Adspend: agency forecasts see slowdown looming in Western Europe
Adspend: agency forecasts see slowdown looming in Western Europe

Interpublic's MagnaGlobal intelligence unit is the more pessimistic of the two, predicting a 0.2% decline for the region in 2012, after revising its December forecast of 1.1% growth.

Publicis Groupe's ZenithOptimedia has cut its March outlook of 1.5% growth to 0.4% growth.

The Spanish market is in dire straits, with MagnaGlobal expecting a drop of 8.4% and "the fourth year of downturn in the last five years", and Zenith forecasting a drop of 12%.

MagnaGlobal has now predicted Italy will also go into reverse, which is backed up by ZenithOptimedia's forecast of a 5% drop.

However, the UK is tipped by both agencies to escape the gloom on the continent.

ZenithOptimedia pegs the country's growth this year at 3.5%, down slightly from its 3.7% prediction in December.

MagnaGlobal has gone for 2.4%, commenting that the two big events of 2012, the Queen's Diamond Jubilee and the London Olympic Games, have proven even stronger than anticipated.

Optimism remains the prevailing mood at the global prediction level, although ZenithOptimedia has downgraded its forecast from 4.8% in March, to 4.3%.

Follow Daniel Farey-Jones on Twitter @danfareyjones

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Waitrose boosts content strategy with 'Weekend Kitchen with Waitrose' C4 tie-up

Waitrose boosts content strategy with 'Weekend Kitchen with Waitrose' C4 tie-up

Waitrose has joined forces with Channel 4 and produced a Saturday morning lifestyle and cookery programme called 'Weekend Kitchen with Waitrose', with TV presenters Lisa Snowdon and Steve Jones signed up to front it.

Share
Newspaper ABCs: Guardian smashes through 100m browsers in March 2014

Newspaper ABCs: Guardian smashes through 100m browsers in March 2014

The Guardian reached more than 100 million monthly unique browsers for the first time in March, according to Audit Bureau of Circulations figures published today.

Share
Toyota achieves the impossible by calming angry Roman drivers

Toyota achieves the impossible by calming angry Roman drivers

Italians swearing and shouting while sitting behind the wheels of their cars and negotiating the busy streets of Rome could become a thing of the past if they all start driving Toyota's Hybrid vehicles, implies a short film for the car brand.

Share

Get news by email