Global advertisement spend to fall in 2009, to stay flat in Turkey.hurriyet2008-detailbox-newslink { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:none; color:#000000;}.hurriyet2008-detailbox-newslink:hover { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:underline; color:#990000;}A leading international media buyer has slashed its global advertising spend forecasts for the second time in two months, predicting that world ad spend would now decline in 2009, by 0.2 percent, while the ad market in Turkey is expected to be flat next year.

ZenithOptimedia last published its forecasts in early October when it said growth in 2009 would hit 4 percent.

"It is now clear that the ad market is in the middle of a sharp downturn," it said. "Consumer and corporate confidence has been severely shaken, and the economic outlook is uncertain.

"Because of the general economic volatility there is greater degree of uncertainty than usual to our forecasts, and we are keeping them under monthly rather than quarterly review."

Zenith said it now expected ad expenditure to decline 5.7 percent in North America in 2009 and 1 percent in Western Europe, much lower than its previous forecasts of 0.9 percent growth and 2.6 percent growth, respectively, published just two months ago.

The report said the credit problems had also slowed the advance of some developing markets, particularly in Asia Pacific and Central & Eastern Europe.

"We have reduced our forecasts for ad expenditure growth in 2009 from 5.2 percent to 3.2 percent in Asia Pacific, and from 12.7 percent to just 1.5 percent in Central & Eastern Europe amid fears about the economic stability of markets like Hungary, Turkey and Ukraine," it said.

International Advertising Association (IAA) said the ad market in Turkey is expected to stay flat or to shrink 3-5 percent in 2008, the monthly CNBC-e Business reported in its December issue.

In 2007, the ad spending was 3.3 billion YTL ($2 billion) in Turkey and in the first three quarters of 2008 the spending increased by 11 percent to 2.6 billion YTL ($1.6 billion).

"We do not expect this growth trend, which is underway for the last six years, to continue in 2008. Moreover we could observe that it shrinks by 3-5 percent. For 2009, we expect the ad spending to stay at 3 billion YTL," Mehmet Ali Yalcindag, the chairman of the IAA, was quoted as saying by the monthly.