Bucking the trend

As Western economies slid towards recession three years ago, media and advertising executives began to ask worrying questions. Would the advertising slump prove structural or cyclical? Would marketing money return to all media, or just a few? The answers are becoming clear. There are two surprises, says Sir Martin Sorrell, chief executive of WPP, the world’s biggest ad agency. The first is the health of the American advertising market, which has benefited from government stimulus. The second is the recovery of old media. More from the Economist here.