A new survey of advertising agencies conducted by National Economic Research Associates has painted a gloomy picture of current confidence levels in the TV advertising industry. Intentions to advertise on television are below average for the time of year and predictions for the Christmas period and beyond are pessimistic. The latest estimate for total UK TV ad revenue now stands at £1.8bn for 1992. Debilitating factors cited include the devaluation of the pound, the high cost of TV advertising and reduced budgets.
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