ZenithOptimedia cuts adspend forecast to 4.3% in '08

ZenithOptimedia has reduced its forecast for adspend growth to 4.3% in 2008, down from the 6.6% growth forecast that it had published in June earlier. It has also reduced its growth forecast for 2009 from 6.0% to 4.0%. The downgrade has been attributed to the financial shock caused by the bank failures during the latest phase of the crisis in financial markets.