General advertising volumes at the paper were down by 22.4%, according to the broker, with declines in auto, healthcare and professional services partially offset by improvements in travel and apparel.
Technology, which has been especially weak over the last year (see Advertising Remains Weak As Wall Street Journal Misses Forecasts), was down by 2.1% on very easy comparisons. Financial advertising dropped by 22.5%.
Dow Jones says that September is likely to be down by mid single-digits, which would close the quarter at around -12.0%. This is at the high end of management’s 8-12% decline forecast.
