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Considering the economic uncertainty that has gripped nearly every global market and the fact that a major U.S. industry may end up driving off a cliff, taking millions of jobs and billions of advertising dollars with it, it could have been a lot worse. At today's UBS Media Conference, ZenithOptimedia and Group M both forecast global ad spending on measured media will experience no growth in 2009, the first time in years, and will instead decline 0.2% compared to 2008.

ZenithOptimedia projects global ad spending will hit $490 billion next year, down from US$491 billion. Group M's estimate is US$458 billion for 2009.

Read the full story in Advertising Age