UK Marketing budget gloom despite strong global growth

CONFIDENCE LEVELS among marketing executives in the UK are at their lowest since the worst of the recession in 2009. A quarterly survey conducted by the Institute of Practitioners in Advertising with BDO and Markit Economics found 25% of respondents had cut their marketing budgets in the first quarter of 2011 compared with only 20% who saw a budget increase in the period. Despite the gloom, most in the market have not seen actual reductions in spending or commitments pulled. Matt Edwards of Engine Group said, “it’s not that people are pulling budgets and stopping spending but there is a degree of caution before committing to spend.” - 18/4/2011