WPP: Some Slowdown In US, More Coming Next Year

Published: February 29, 2008, 9:32 am

Media congolomerate after media congolomerate -- most recently, Viacom -- says they're not seeing an ad slowdown. But WPP, the world's second-largest ad copmany, says it thinks a global one is coming next year, and CEO Martin Sorrell says he's already seeing a "little bit" of one in the U.S. Sorrell's comments came after his company delivered solid earnings (up 6.9%) and decent organic revenue growth (up 5%).From WPP's release: It seems inevitable that the real' world will at some point in time be affected by the private equity, sub-prime, insurance monoline, and housing market crises, that we have seen. In our view, this seems more likely to be in 2009, when a slow-down (not a recession) in the United States will be hard to avoid, particularly as a new United States President tries to deal with heavy government spending and twin deficits, and kitchen-sinks' his or her budgets, in front of a possible eight year 'reign', just as new CEOs tend to do with companies and there are no

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