Carat revised its 2007 U.S. ad spending forecast downward slightly to 5.1% growth. In December, the company had projected a growth rate of 5.2%. Carat forecasts U.S. ad demand to rise to 5.6% next year, compared with 4.9% in 2006.
Carat expects 6.4% growth in global ad spend in 2008, largely fuelled by China, and maintained its global estimates for this year at 5.8%, down on the previous year's 5.9%.The biggest growth will come from online, while newspapers will be the slowest-growing segment.
Carat also projected increasing ad spend from new technologies, including 3G (wireless), HD Radio and IP (Internet Protocol) TV. Digital investment remains the single biggest driver of growth in every region and country, with the next two fastest growing media being out-of-home and cinema.
China is forecast to see 2007 growth of 20.9%, more than three times faster than the global advertising industry. The 2008 figure for China is 23.1%.