UK: Recession ahead?

1997 was a good year for advertising in the UK, with spending on advertising rising to £13.14 billion, a 6 per cent increase in real terms, according to figures from the Advertising Association, but 1998 and 1999 may show a less buoyant picture as the impact of the strength of sterling hits manufacturing and exports. Newspapers and magazines accounted for 53 per cent of total spending, the second-largest being TV with 28 per cent.