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Minimal growth and lower spending on advertising are forecast for the British sector in 2023 due to ongoing economic uncertainty, with the latest figures from the Advertising Association/WARC Expenditure Report forecasting a 0.5% increase on last year’s $43.13 billion (34.8 billion pounds) spend.
According to the latest industry report (released within a week of others from the IPA and IAB), advertisers are expected to be more cautious than previously forecast with 3.8% growth predicted for the year.
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