Slump to squeeze ad spending

Global advertising spending will decline the most in at least 29 years in 2009 as the recession squeezes consumer confidence and businesses continue to slash marketing budgets, according to ZenithOptimedia.

Spending will fall 6.9 percent to $453.2 billion, more than the 0.2 percent drop forecast in December, Zenith said . US outlays will slump 8.7 percent, compared with a previous estimate of 6.2 percent, said Zenith, a unit of Paris-based Publicis Groupe that advises companies on ad purchases.

Ad expenditures will drop from their 2008 peak after economies contracted around the world, forcing Zenith to cut its estimates for the third time in about six months. While Zenith anticipated declines in the US and western Europe in December, it didn't account for plunges in Brazil and Russia.