The U.S. ad economy continued to recede for the third consecutive month in August, albeit at more moderate rate than July’s nearly 13% decline, according to a MediaPost analysis of data from Standard Media Index’s just-updated U.S. Ad Market Tracker.
With better comps vs. year ago numbers, U.S. ad spending declined only 3.3% in August vs. the same month a year ago.
Still it was the third consecutive month in which the U.S. ad economy receded, indicating that the post-COVID-19 pandemic boom appears to be over, and even with easier comps the U.S. ad economy is not expanding.
The update also comes amid growing angst about a broader economic recession in the U.S. and in other key markets worldwide, as well as lingering concerns about inflation, the supply chain, the stock market and other key economic indicators.
The pullback continues to be among the biggest ad advertisers, as the top 10 ad categories fell 5.1% in August, while all others fell only 0.9%.