PARIS, Sept 19 (Reuters) - Global spending on advertising isexpected to grow 5.3 percent this year, slightly lower thaninitially forecast, because of tension between Russia andwestern countries over Ukraine, according to market researcherZenith Optimedia.
The forecaster, which is owned by advertising agencyPublicis, also trimmed its expectations for ad salesfor next year to 5.3 percent and 5.9 percent in 2016 citingweaker outlooks in central and eastern Europe, North America andthe Middle East.
"The conflict in Ukraine severely disrupted the domestic admarket, while Russia has suffered," Zenith said in astatement, adding that Russian ad spend would grow only 1.7percent this year.
"This will be the first year in which Russia will not growat a doubledigit rate since 2009."
The world's largest advertising groups such as MartinSorrell's WPP, Omnicom and Publicis often post growth rates correlated with global gross domesticproduct. They are set to benefit this year as the United States- the largest ad market followed by Japan and China - isexpected to grow as unemployment falls.
Zenith said the total amount of media spend will reach up to$523 billion at year end.
Publicis shares have fallen about 14 percent this yearbecause of weak growth after the company's failed merger withOmnicom, which is down 5 percent. WPP is down nearly 7percent.
(Reporting by Leila Abboud)
WPP (WPP)
