Indian ad forecast cut

Advertising expenditure in India is predicted to grow more slowly than previously thought, at 8.5% in 2013 compared to an earlier expectation of 9.9%,  revised figures from media buying agency GroupM show.

The company cited slowing economic growth and a weakening rupee as the main reasons for the new forecast, reported in Livemint, which sees a sharp downward revision for the second half of the year, from 7.4%, year on year, to 4.7%.

Estimates for digital media (+30% growth) and outdoor (+3.8%) remain unchanged, but some other sectors are expected to be hit hard.

Print is the worst affected, with growth plunging from 4.8% to 0.7%. The forecast for advertising in newspapers and magazines has been reduced from Rs.18,113 crore to Rs.17,727 crore.

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