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. Last Updated: 07/27/2016

H1 Ad Spending Down 30%

The advertising market fell 30 percent in the first half as the economy contracted, the Association of Communications Agencies said Tuesday.

Spending fell to about 90 billion rubles ($3.05 billion) from 127 billion rubles a year earlier, the group said. Procter & Gamble spent the most on TV spots, while L’Oreal led spending on print ads, it said.