Trinity Mirror yesterday became the first newspaper group to reflect signs of a cooling economy when it reported a sudden drop in advertising since March, especially at its London-based nationals, which include the Daily Mirror.

Advertising revenues at London titles fell by 3.9 per cent year-on-year in the first four months of 2005, in contrast with rises of 2 per cent at the Scottish titles, including the Daily Record, and 4 per cent at its regionals.