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When the economy slows, marketing budgets get the cut first. Not everyone gets hit the same way, though.
Local retailers and service providers, local attorneys, dentists' offices, mom-and-pop stores, and the like tend to be most affected by short-term changes in the economy.
Ad spending by these local businesses has slowed sharply, rising 2.3% in the first nine months of 2007 from the same period a year earlier, down from growth of 11% during the first nine months of 2006, according to TNS Media Intelligence in New York.
TNS projects that total U.S. ad expenditures will climb 4.2% this year. But expectations of big gains from political campaign spending and the Beijing Summer Olympics hide weakness in the core ad market.
Expected to slide further this year: Real Estate, where spending sank 13.9% during the first nine months of 2007 from a year earlier, and retail, which slipped 1.8%, including a 2.1% decline among department store chains, according to TNS. Financial services......

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Approximate Word Count: 601
Approximate Pages: 3 (250 words per double-spaced page)

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