UK firms spend more on marketing despite Brexit uncertainty — survey
The report showed that cautious undertones were still apparent in budget plans for the current financial year, with panelists providing only modest growth expectations in available marketing spend
Bengaluru — British companies spent more on marketing in the opening quarter of 2019 despite uncertainty around Brexit, but their budgets for the rest of the year could be the most subdued since after the financial crisis, a survey showed. The IPA Bellwether survey, conducted by IHS Markit, showed on Wednesday that 21.6% of marketing executives raised their budgets during the quarter, while just under 12.8% of executives who took part in the survey cut their marketing budgets. “This sharp increase following Q4 2018’s flatlining signals that UK marketing budgets have received a much-needed kiss of life in an economy gripped by Brexit uncertainty,” IPA director general Paul Bainsfair said. Bainsfair, however, added that the forecast for 2019 ahead was uncertain given the seemingly endless negotiations around Britain's exit from the EU. The report showed that cautious undertones were still apparent in budget plans for the current financial year, with panelists providing only modest gr...
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