• by Wayne Friedman , December 10, 2014

The forecast for the survey market, which covers 12 countries, has been revised downward by half a percentage point from 5.3% in Warc's June forecast.

Warc attributes the downgraded forecast to stagnation in the Europe, slower growth in parts of Asia, as well as the unrest in and around Ukraine.

It also includes a reappraisal of the Russian market. In Russia, Warc’s forecast for 2015 has been slashed by 2% from 7.2%. Brazil, experiencing deteriorating economic conditions, is now forecast to grow at 3.7% in 2015, a reduction of 4.3 percentage points from the June estimate.

Two of the fastest-growing territories will continue at a double-digit pace: India, at a 15.1% in 2015, and China, moving upwards by 10.5%. Revised estimates for India are up 1.6 percentage points, and down 0.5 of a percentage point for China,

The recovering U.K. is now expected to be the third fastest-growing market in 2015 at 6.9%.

Warc’s survey in June estimated the U.S. advertising market in 2014 to climb 5.6% to $167 billion.