NEW YORK (Reuters) - A leading marketing forecaster on Tuesday cut its projection for U.S. spending on online advertising this year, signaling that economic troubles are likely biting into corporate marketing budgets.
The revised forecast by eMarketer calls for U.S. advertisers to spend $25.8 billion online this year, which compares to its projection of $27.5 billion made in October.
EMarketer added, however, that online spending should still grow by 23 percent from 2007 and weather the economic downturn better than spending on other types of advertising.
Spending growth will then likely slow in 2009 to about 16 percent, and will not return to growth of 20 percent or more until 2012, EMarketer said.
Reporting by Paul Thomasch; Editing by Brian Moss