UK Advertising To Outpace Economy In 2004

UK advertising growth is set to outpace economic growth this year, after underperforming in 2003, according to the Spheres Of Influence report from Initiative Media.

Advertising expenditure is forecast to grow by 4.2% this year, after an expected 2.2% rise in 2003. Annual economic inflation, is predicted to close at 2.8% in 2003 – stronger than advertising. In 2004, economic growth is forecast to be just 2.5%, below advertising’s 4.2%, according to Initiative.

The internet will be resurgent this year, with expenditure expected to jump by 46.2% in the UK, after a predicted 25.4% growth in 2003. Even this figure is erring slightly on the side of caution, according to the report’s author Tonia Perretta. Digital marketing agency i-level, for example, is forecasting that online spend will close 2003 at 65% higher than in 2002.

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