Recession: Bellwether calls the bottom, Maurice Levy predicts further gloom

The global advertising market is weakening faster than previously feared, according to Maurice Levy, the chairman and chief executive of Publicis Groupe. The holding company chief was quoted on Capital magazine’s website as saying: “The advertising market is locked into a downward spiral. “Since the beginning of the year, the indicators haven’t stopped getting worse. In February, I was expecting a global decline of the order of 3 per cent. It is now accepted that the drop will be even stronger.”
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