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October 26, 2022updated 14 Nov 2022 7:24am

Adspend forecast: 2022 and 2023 predictions downgraded amid recession fears

By Bron Maher

Adspend growth in 2022 and 2023 will not be as fast as previously predicted, according to the latest Advertising Association and WARC expenditure forecast.

The forecast still anticipates overall ad market growth, but recessionary fears mean all-2022 spending is now expected to be lower than the July report’s predictions.

The prediction for market growth in 2023, which was already in single digits in July, now sits slightly below 4%.

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