Global print revenue growth shaved to 0.7pc

ASIA-PACIFIC: Global magazine advertising expenditure is predicted to expand at the sharply lower rate of 0.7 per cent this year - down from last year's sizzling 10.4 per cent pace - as the global economic slowdown deepens. The forecast, which was made in the latest World Magazine Trends report, compiled by the International Federation of Periodical Press (FIPP) and Zenith, maintained that long-term prospects remained strong. Publishers generally agreed with the long-term forecast, saying that last year's growth rate was abnormally high because of the dotcom and technology boom. They said their publications would have posted a year-on-year increase in advertising bookings had the 2000 expansion rate not been so unusually robust. A few publishers have indicated that confidence is returning. The Economist's worldwide publisher, David Hanger, said: "Major global campaigns are set to start in December, with the biggest categories being manufacturing, IT and banking. We're still missing airlines but I think that depending on how things occur, they will be back by March." He believed that the first two months of the new year would remain bleak, but he predicted a pick-up from the end of the first quarter.

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