Quick Study: Most Media to Retrench in ’09; Online Video Consumption Rises at Work; Millennials Still Hopeful

*New Year Brings Wary Ad Forecast: According to a new report by FitchRatings, the projected contraction in output among the major advanced economies will represent the steepest decline since WWII, with GDP in the U.S. to decline approximately 1.2%, while inflation is forecast to be 2.7%. Regarding the advertising environment, the Fitch media team is more cautious than most major advertising forecasts, none of which currently predict advertising to be nearly as weak as 2001. Fitch's cautious view about advertising is, in part, supported by these underlying conditions: