While most sources are predicting a rise in ad dollars for the rest of this year, Barclays analyst Anthony DiClemente is lowering his estimate from 5.5% to only a 5% growth. That may not sound like much but these days, even .5% really counts.

In an article at MediaMemo, Peter Kafka says that it’s print (including phone book advertising) and radio that are skewing the numbers as they continue to have poor ad sales. The web and TV networks are seeing an uptick but when you average it together it’s not a pretty picture.

Kafka goes a step further, noting that things were so bad last year that even a 5% hike isn’t bringing ad dollars back to what they once were. He says we’ll know more when the big media companies turn in their Q2 reports next week but he’s not hopeful.

“Even if you assume that those guys report healthy-looking numbers, it’s important to remember that they are based on very weak comps from the previous year. Which means that industries that are still posting declines are really, really, down.”