Publicis concerned about advertising slowdown

Publicis Groupe SA, the French multinational advertising and communications company, said strong business in China is making up for slower growth in Europe.

However Maurice Levy, chief executive, warned that Chinese advertisers were not planning to increasing their budgets this year, and its fortunes in the country is now one of his top concerns, despite sales growing by 15.3 per cent in the first quarter.

Publicis has made more than a dozen acquisitions this year in countries such as China and India as well as in the Middle East as high unemployment and austerity programs by European governments crimp spending by consumers and companies at home.

Agencies - China Daily