US Economy Expected to Expand by 5.6% in 2024, Driven by Positive Ad Outlook and Improved Economic Expectations
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The US economy is projected to experience a 5.6% expansion in 2024, according to ad industry economist Brian Wieser. This revised outlook reflects an upward revision from Wieser's original projection of 4.3% in September 2023 and a subsequent revision of 5.2% in November 2023. Wieser attributes this positive outlook to improved future economic expectations, with GDP forecasts for 2024 increasing by nearly a percentage point in February compared to November. It's worth noting that Wieser's outlook excludes the expected record year for political ad spending in the US, which is projected to contribute up to $11 billion to the ad economy. The majority of political ad spending, about two-thirds, is expected to be allocated to TV, while the remaining third will go to digital platforms. Wieser al...
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