LEADER: Caution replaces gloomy forecasts

<p>Uncertainties over the near term direction of the regional and </p><p>global economy have certainly dampened adspend growth, highlighted by </p><p>the beating major regional titles appear to have taken in January. </p><p>Interestingly, media owners are now saying that their prospects have </p><p>brightened and that gloomy predictions of just a few months ago are </p><p>giving way to cautious optimism. </p><p><BR><BR> </p><p>No-one can say at this stage if last year's bull run will be </p><p>repeated. </p><p><BR><BR> </p><p>But which ever way you look at it, cautious optimism is a pretty decent </p><p>improvement over the bleak outlook that prevailed just a few months </p><p>ago. </p><p><BR><BR> </p><p>That's a healthy sign - that we're not talking the business any further </p><p>down. </p><p><BR><BR> </p>