17 October 2013 - 8:00am | posted by | 0 comments

IPA Bellwether finds marketing spend revised up at strongest rate ever recorded

IPA Bellwether finds marketing spend revised up at strongest rate ever recordedIPA Bellwether finds marketing spend revised up at strongest rate ever

The latest IPA Bellwether survey has found that marketing spend is at its highest level in the 13 years since the report has been published.

It found a net increase of 12.3 per cent in companies registering an increase in advertising budgets, providing “a welcome boost” to the industry and that the UK economy is “on the rise again.”

Real UK ad spend growth is now projected to be 2.4 per cent 2013 and 3.6% in 2014, it said.

“This latest Bellwether report will provide a welcome boost to our industry, building on last quarter’s results. It indicates that companies are beginning to move forward away from the recession and that the UK economy is on the rise again. This optimism will send a continued upbeat message to the advertising industry and the wider economy,” said IPA director general Paul Bainsfair.

Chris Williamson, chief economist at Markit and author of the Bellwether report added: “The Bellwether survey adds to the growing flow of upbeat data on the UK economy. Marketing spend looks set to rise sharply as companies boost their budgets to an extent not seen in the 13-year history of the survey.”

He continued: “The increased appetite to spend on advertising and marketing is being fuelled by a surge in business optimism, with firms seeing their financial prospects to be the brightest for at least eight years.

“These survey findings are not only great news for the marketing industry but also for the UK’s broader economic recovery. The fact that business are starting to spend in earnest again suggests we may finally see a long awaited upturn in investment spending, which will help take the UK’s recovery onto a more sustainable footing.”

Be the first to comment on this article: sign in or register.

Latest Projects from the Profile Hub

Glasgow University College of Arts Knowledge Exchange - communications strategy

20/11/2014
The College of Arts Knowledge Exchange is a leading-edge...

In The Snow Magazine Front Cover

20/11/2014
Front cover from a fashion shoot in Zermatt earlier this...

Cuckoo Design - HeadSpace

17/11/2014
If you want to work through your brand challenges and turn...

Welsh Blood - Precious Concept

17/11/2014
Description The Welsh Blood Service organises the...

Pentland / Ted Baker – AW14 footwear photography

14/11/2014
Pentland is behind some of the world’s best-known sports,...