Forecast: European marketers cut spending, shift budgets online

07/13/2008 | NYTimes.com

Marketers reportedly are trimming their print and broadcast ad spending, and boosting their online budgets, in reaction to a global hike in food and energy costs. Overall, Western European ad spending is projected to be down slightly from earlier forecasts, to 3.7%, just above the inflation rate, and slightly more than the 3.5% increase projected for North America, according to Publicis Groupe's ZenithOptimedia.

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