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Escalating Eurozone crisis prompts marketers to limit spend

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By John Glenday, Reporter

May 24, 2012 | 2 min read

Global marketing budgets have experienced a sharp slowdown in spending growth as the escalating Eurozone crisis exacts its toll, according to the latest research from Warc.

Their Global Marketing Index found worsening trading conditions in every region, with Europeans (unsurprisingly) proving to be the most pessimistic of the lot.

Its headline index for May dipped to 50.3, a whisker above the 50 mark representing stagnation, and a sharp drop from April’s relatively rosy 53.7.

Warc believe that while marketers still believe that conditions are generally improving, the outlook has worsened in recent weeks with confidence levels back to where they were at the start of the year.

Elsewhere the GMI figure, which combines readings from trading conditions and staffing as well as marketing budgets, held up rather better at 55.3, down from 58.1 last month.

Commenting on the May 2012 GMI results, Suzy Young, Data Editor at Warc, added: “As the eurozone enters yet another period of crisis, with the outcome uncertain until the Greeks head to the polls again on June 17, it is not surprising that marketers have chosen to limit spend at this time. I would expect similar trends to be repeated in June."

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