LONDON: Confidence among global marketers dipped in August, according to the latest Warc Global Marketing Index (GMI), although optimism about trading conditions in Europe continued to strengthen.
The headline GMI figure, which assesses marketers' expectations in three main areas – trading conditions, marketing budgets and staffing levels – was down 2.2 points from July to 54.4, and down 1.2 points on the same time last year. A reading of 50 indicates no change from the previous month, while a reading of 60 indicates rapid growth.
Warc's GMI is a unique monthly indicator of the state of the global marketing industry which tracks conditions among marketers within their organisation and region.
While confidence was slipping in every region, it remained highest in Europe, at 56.0, down 1.2 points on the previous month. Larger declines in the headline index were recorded in the Americas, down 2.5 points to 55.2, and in Asia Pacific, down 3.3 points to 51.8.
Each region's decline was marked by a sharp movement in one of the component parts of the index. Thus, in the case of Europe increased optimism about trading conditions and budgets was more than offset by concerns about staffing levels.
After two months of declining positive sentiment about budgets, the Americas was likewise rebounding but was also less optimistic regarding staffing levels.
Nonetheless, in all these instances the relevant index remained above 50.0, indicating a generally positive feeling. Only in one case did an index fall below 50: in Asia Pacific the index for marketing budgets plunged 4.3 points to register 48.2, the first month of declining budgets in the region since September 2013.
This sudden decline was largely attributable to a tightening in budgeted spend on mobile.
"Despite a fall in headline indexes this month, industry consensus is that things remain on the up, with trading conditions in particular proving favourable for marketers in all regions," said James McDonald, Research Analyst at Warc.
Data sourced from Warc