LONDON: The global marketing community continues to be broadly confident about the future, with Warc's headline Global Marketing Index (GMI) in positive territory for the eighth month in a row in July, but there has been a weakening of expectations in Asia Pacific.
The headline GMI, which combines trends reported in trading conditions and staffing levels as well as marketing budgets, dipped to 54.3 in July from 55.9 in June. But on a scale where values above 50 indicate a positive trend, the sector remained optimistic about the immediate future.
Asia Pacific recorded a slowdown in headline GMI, down 3.6 points to 54.6. Among the component parts for the region, the outlook for marketing budgets dipped most, falling 5.5 points to 50.0.
The indexes for trading conditions and staffing levels in the region were also down compared with June, by 3.3 points and 1.9 points respectively, although both stayed well above 50 at 56.6 and 57.3.
The outlook in the Americas remained positive, even with the region's headline GMI hitting an eight-month low of 56.4. It was the only region to contribute net growth in the marketing budget index with a reading of 55.5.
The index of trading conditions in the Americas continued to be strong on 58.5, and staffing levels recorded an index value of 55.1.
Europe's headline GMI has stabilised on 52.9, with the marketing budget index improving slightly, from 48.3 to 49.7. But those for trading conditions and staffing levels were down 1.3 points and 1.7 points respectively. Both, however, were still above 50.
Allocation of marketing budgets by medium was consistent with previous months, with digital and mobile showing increases, while TV, radio, out of home and press all shrank.
Suzy Young, Data and Journals Director at Warc, remarked on the slowdown in the headline GMI and suggested the outlook was less optimistic than in recent months.
"But the index continues to indicate overall growth which is encouraging, and we're in a better position than this time last year," she observed.
Data sourced from Warc