• by Joe Mandese  @mp_joemandese, September 20, 2018

U.S. ad spending is expanding at a higher rate than anticipated -- jumping 5.8% in the second quarter after rising 6.5% in the first quarter -- and is now on pace to reach a new all-time high for full-year 2018, according to a revised forecast released this morning by IPG Mediabrands’ Magna unit.

Magna now projects the U.S. ad market will top $200 billion for the first time this year, wrapping up at about $207 billion for all four quarters, a 6.9% expansion over 2017.

“The upward revision was triggered by a stronger-than-expected market in the first half (+6.1%) and robust macro-economic forecasts,” the Magna report explains, adding, “The 2019 forecast was also raised due to continued expectations for economic strength, from +3.6% to +4.0%.”