Interpublic unit sees '08 global ad spending up

NEW YORK, June 26 (Reuters) - Media buyer Universal McCann on Tuesday said it expects advertising spending to rise worldwide in 2008, with U.S. ad growth slightly slower than the global market.

U.S. advertising spending will likely rise 5 percent in 2008 to $305 billion, said Robert Coen, senior vice president and director of forecasting for Interpublic Group of Cos. Inc.'s (IPG.N) Universal McCann.

Global advertising spending is expected to rise 5.5 percent in 2008 to $665 billion, Coen said.

Coen also cut his advertising forecasts for 2007, initially issued in December. He now expects U.S. advertising to grow 3.1 percent to $290.3 billion, compared with an earlier forecast of 4.8 percent growth.