ZenithOptimedia lowers 2016 global forecast

ZenithOptimedia predicts global ad expenditure will grow 4.0% in 2015, reaching US$554 billion by the end of the year. The forecast for 2015 is down by 0.2 percentage points from the June edition as marketers have moderated their expectations of global economic growth.

There are five countries in Asia with developed economies and advanced ad markets that ZenithOptimedia has placed in a group called Advanced Asia: Australia, New Zealand, Hong Kong, Singapore and South Korea.

"We estimate growth here at a disappointing 1.9% in 2014, after weakness in the property market damaged consumer confidence in Singapore and Australia suffered from low prices for its key commodity exports. As these problems recede we expect growth in Advanced Asia to pick up to an average of 2.7% a year through to 2017."