Media agency Group M has slashed its UK advertising forecasts for the television industry. The company has cut its forecast for advertising growth to 1%, compared to 4% that it predicted in December. Group M, which is owned by Martin Sorrells WPP, has also slashed its forecast for total UK advertising from 3.6% to 1.5%.
ÂReal household disposable income is presently the same as it was in 2008 thanks to wage deflation and the tax / benefit squeeze. And it is going to get worse before it gets better. 2011Âs UK retail sales slowdown has put a brake on advertising, at least short-term. We always expected 2011 would be fundamentally tougher, but have had to reduce our previous forecast,Â said Group M director Adam Smith.
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