Figures to be released by the Interactive Advertising Bureau show that online advertising market spending rose by just 3.7% in 2023, increasing from $14.19 billion to $14.72 billion.
It was the slowest rate of growth in online advertising since 2020, with interest rates impacting expenditures by advertisers.
According to industry sources, uncertainties about interest rates and rising unemployment, which increased from 3.9% to 4.1% in January, continue to cause anxiety for businesses, influencing how much they spend on advertising.
