Ad spending slows down; Merrill Lynch, Blackfriars reports don't bode well for marketeting...

Byline: KATE MADDOX

Citing an economic slowdown, a slump in tech spending, higher oil prices and other factors, several research firms lowered their ad spending forecasts.

Merrill Lynch last month changed its global ad forecast this year from 4.9% growth to 4.3% and, for 2007, from 4.1% growth down to 3.5%. For the U.S., Merrill Lynch lowered its ad forecast for this year from 5.1% to 4.7% growth, and from 3.5% growth down to 2.8% for 2007.

"Advertising growth seems to be tracking real GDP growth instead of nominal GDP growth, as it did in the pas