Marketing budgets to ‘plummet’ across Asia Pacific & Europe
Figures produced by Warc for their latest Global marketing index have shown global marketing budgets to have fallen to their lowest level this year, dropping 1.4 points since July to reach an index value of just 46.1.
Asia Pacific led the fall with a sharp 4.7 point decline in confidence reducing their index to a mere 46.1. Europe continues to be the worst performer overall, languishing at close to its all-time low of 40.9.
One bright spot came courtesy of the Americas where the index rose to 53.5.
Warc also noted that, surprisingly, general trading conditions and staffing levels are improving – despite cuts to marketing budgets.
On this metric, the Americas (57.7) and Asia Pacific (52.6) show growth, but for European marketers the outlook is negative (48.9).
Commenting on the August 2012 GMI results, Suzy Young, data editor at Warc, said: "Marketers in Asia Pacific and Europe are reducing budgets. In the months ahead, it will be interesting to see if the sudden dip for Asia Pacific is representative of a more deep-rooted downturn."