Warc survey outlines growing pessimism over marketing budgets
Marketers are continuing to feel the pinch according to Warc’s latest Global Marketing Index (GMI) report, which has charted ongoing declines in marketing budgets across Asia Pacific and Europe whilst the Americas remain stagnant.
The mounting sense of gloom belies some positive trends however; notably an improvement to global trading conditions and a growth in staffing levels in all regions (excluding Europe).
The headline GMI metric, monthly responses from a global panel of marketers, nudged up to 50.1 in November, the lowest headline reading since the survey began in October 2011.
This overall figure masked a good deal of regional variation however, with the America’s continuing to be the most positive (53.2) and Europe the most pessimistic (48.2).
A key drag on sentiment was a significant drop in marketing budgets, which dropped to their lowest levels since November 2011. It currently stands at 46, a sharp drop from October’s 48.8.
Staffing levels, the third component of the GMI figure, showed an improvement to 51.1, albeit at a slower rate than previous months.
Suzy Young, Data Editor at Warc commented, "Following President Obama's re-election, attention has once again focused on the global economic situation. It is a tricky time for marketers worldwide and many have chosen to adopt a 'wait and see' approach when it comes to budget setting in the short term."