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Survey says ad spend decline has slowed

THE RATE at which companies cut their advertising spend eased in the second quarter of 2009, raising hopes that the recession may have peaked, a new report said yesterday.<br /><br />The survey by the influential Institute of Practitioners in Advertising said the rate of decline eased for the second quarter in a row.&nbsp; But the report, compiled by Markit, said that the rate of decline still remained severe, with only 10 per cent of companies increasing their 2009 budgets.