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Madison Avenue sees hard slog, but respectable growth

Industry expects worldwide advertising spending of 4.8 to 5 per cent next year

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Mr Sorrell says the challenge for the industry is to convince clients to focus on the top line rather than reducing costs.

New York

AN OLD Viennese saying to the effect that "the situation is hopeless, but not serious" seems to sum up what several Madison Avenue thought leaders believe lies in store for the industry next year.

The senior executives, in presentations on Monday at an annual media

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