LONDON: The outlook for marketing budgets has continued to improve in Europe, but that for Asia Pacific has declined further, according to the latest data from Warc's Global Marketing Index.
The global index for marketing budgets rose 0.5 points to 52.0 in September. On a scale where values above 50 indicate a positive trend, this suggests an increase in spending overall.
In Europe, the index for budgets rose 2.8 points to 52.8, taking it into hitherto uncharted territory – this is the region's highest reading since the Index began in October 2011.
"Europe's sudden jump in its marketing budget index is a good sign for the region's marketing industry, if it is sustained in future months," said Tom Bristow, Assistant Data Editor at Warc.
Asia Pacific, on the other hand, saw a second month of declining spending, slipping 0.4 points, to 47.8. The Americas' reading once again suggested strong growth for expected budgets, on 55.2, though this was a 0.6 point decline from August.
The headline GMI – a metric combining the three components of budgets, trading conditions and staffing levels – remained positive in September, despite falling back almost one point to 54.7.
The sharpest monthly drop came in Asia Pacific, which fell 2.1 points to 51.7. Europe and the Americas saw little change, rising 0.1 point to 54.9 and falling 0.5 points to 57.8, respectively.
Along with its increasingly gloomy view on budgets, Asia-Pacific's consideration of future trading conditions was also declining, down 2.8 points to 52.2, its lowest recorded level.
Trading conditions in Europe improved, however, with the index rising by 0.4 points to 55.6, while the index for the Americas fell by 0.8 points to 60.4.
The global index of staffing levels continued to indicate increased hiring in every region, despite falling 1.7 points to 56.5. The index stayed stable in the Americas, on 57.8, fell 3.0 points in Asia Pacific, to 55.2 and also fell in Europe, by 3.1 points, to 56.2.
Data sourced from Warc