Annual global advertising expenditure will have declined 10.2% by the end of 2009––the worst annual drop in modern times––but is forecast to stabilize and grow 0.9% in 2010, according to (pdf) projections by ZenithOptimedia.

Despite overall market weakness, Internet advertising is forecast to outperform traditional media this year with 9.5% annual growth, followed by 12% in 2010, Zenith said.

The course of market recovery is expected to follow that of the previous two economic recessions and strengthen steadily as corporate and consumer confidence improves, with 3.9% annual growth in 2011, followed by 4.8% in 2012.

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