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Two UK consumer recessions for the price of one

January 2012

UK households cut their real spending in 2011, and we expect their spending to, at best, flat-line in 2012 and 2013

From an economic perspective, flat real advertising growth is our central case for 2012 and into 2013 for the UK

Poor sales prospects and low profit margins on heavy price discounting will dissuade advertisers from higher spend until tangible evidence of a consumer recovery emerges.

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Reference: 
[2012-003]