Independent media agency, Carat, has published its updated forecasts for worldwide advertising expenditure in 2012 and 2013.

Carat’s data shows global advertising expenditure will continue to grow in 2012 and 2013. The figure predicted in +5%, reduced from the +6% predicted in March 2012. For 2013, they have reduced expectations from +5.8% to +5.3%.

The data also shows that global investment in digital advertising will overtake the investment in newspapers sooner than expected – in 2012 rather than 2013 reflecting the move by audiences to online. Television remains the top media.

Nick Waters

Commenting on the latest forecast, Nick Waters, CEO Aegis Media Asia Pacific, said, “Advertising spend continues to grow in most Asia Pacific markets but at a slower rate than forecast six months ago. The anaemic recovery in the US and ongoing eurozone crisis has dampened Asian economies and consumer sentiment. The reduced pace of growth in China is now creating further restraint across the region. We see these effects continuing into next year so anticipate somewhat slower growth in 2013.”

Here is a look at Carat’s forecast by country and region.