By Suzanne Vranica/The Wall Street Journal
Encouraged by significant advertising growth in developing markets and a surge in online ads, Madison Avenue’s prognosticators are once again raising their global ad-spending forecasts.
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Zenith Optimedia said global ad spending—a barometer of economic confidence—is expected to rise 4.9% from last year to $449.6 billion in 2010. Owned by ad giant Publicis Groupe SA, Zenith has upgraded its 2010 predictions five times over the past year.
“We see a market that is much stronger than we were anticipating and much stronger than we had in all our forecasts,” said Maurice Levy, chief executive of Paris-based Publicis.
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