Newspaper group Trinity Mirror is reflecting the dip in consumer confidence with a fall in advertising revenues in March and April.
The weaker performance for the last two months partially offset gains seen at the start of the year.
The group saw better-than-expected revenues growth of 6.5 per cent in January and February.
The trading update comes two months after the owner of around 240 regional and local newspapers and five national titles announced a 25.7 per cent rise in annual profits.
One-off factors meant it was unwise to place too much emphasis on the recent revenues fall, said chairman Victor Blank.
Overall, group advertising revenues increased by 2.3 per cent in the first four months of the year, following a 1.4 per cent decline in March and April.
In March, Trinity Mirror said it was in "good shape both operationally and financially" after it met all its targets in the first full year of its "Stabilise Revitalise Grow" strategy.