LONDON: Confidence among global marketers remained steady overall during October, data from Warc's latest Global Marketing Index show, with a dip in the Americas offset by rises in Europe and Asia Pacific.
A drop in the headline GMI for the Americas
, of 3.4 points to 54.4, was attributable to the recent 16-day US government shutdown and the associated uncertainty surrounding the US debt ceiling. But, on a scale where values above 50 indicate a positive trend, the general mood was still optimistic.
In contrast, Asia Pacific performed strongly, with its headline GMI up 3 points to 54.7. Europe returned a more modest rise of 0.2 points to 55.1 as the figures for the three regions converged in a way they have not previously done.
Looking at the individual constituents of the headline GMI, the index of marketing budgets dipped from 52.0 to 51.8 globally. Within this, following the pattern of the main index, a 4.3 fall for the Americas – to just 50.9 – was counterbalanced by rises elsewhere.
After three months in negative territory, returning index values below 50, marketing budgets in Asia Pacific recorded a 3.8 point increase to 51.6, suggesting growing confidence in the region. And even though Europe's index declined by 0.5 points to 52.3, marketers here were, for the first time in the history of the GMI, the most optimistic of any region.
The index of global trading conditions reached its highest level since June, up 2.2 points to 57.8 in October. Europe also had the brightest outlook in this regard, with a 3.9 point increase to 59.4, but Asia Pacific's improvement was rather more dramatic, with a 6.2 point jump to 58.5.
While marketers in the Americas saw a 6.0 point fall, conditions remained favourable on 54.4.
The final component of the GMI, the index of staffing levels, stood at 54.9 in October, a decline on the previous two months, but still indicative of increased hiring.
On this metric, the marketers in the Americas were most optimistic, remaining more or less unchanged on 57.9, while Asia Pacific was down 1.2 points to 54.0 and Europe down 2.7 points to 53.5.
Suzy Young, Data and Journals Editor at Warc, described the data as "encouraging for the global marketing industry", adding that she expected the dip in the Americas would correct itself in November's results.
Data sourced from Warc