... previous growth forecasts for both years, respectively 4.3% and 4.4%.
Zenith also predicts that by 2018 global advertising expenditure will total $589bn, $4bn more than forecast in June this year.
This optimistic forecast is mainly driven by better-than-expected growth in the USA, where a strong labour market has encouraged consumers to increase their spending, and advertisers have fought harder for their share of this expanding market.
The forecast also expect US network TV to return to growth this year (at 1%) after shrinking 5% last year, thanks to new spending by pharmaceutical and fast moving consumer goods companies, plus a strong TV advertising upfront in the USA.
The forecast has also made slight upgrades to its adspend forecasts for Asia Pacific and Western Europe. Zenith now expects Asia Pacific to grow 6.3% this year, up from its previous forecast of 6.2%, thanks to heavy political spending in the Philippines in the run-up to the May 2016 elections.
Zenith has also increased its forecast for Western Europe, where improved conditions in Belgium, Finland, Germany, Italy, Norway, Portugal and Sweden have compensated for slowdown in the UK.
Read the original unabridged Performics.com article.