LONDON: Marketing confidence in Europe outpaced the global average and every other region in September to record its highest ever value of 60.2 points, according to the latest Warc Global Marketing Index (GMI).
Europe's headline GMI figure, which assesses marketers' expectations in three key areas – trading conditions, marketing budgets and staffing levels – increased 4.2 points from August. This also represented a year-on-year rise of 5.3 points.
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. A reading of 50 indicates no change while 60+ indicates rapid growth.
Globally, September's headline GMI measure recorded an index value of 56.4 (+2.0 points since August) while it was 56.0 in the Americas (+0.8 points) and 54.5 in Asia Pacific (+2.7 points).
Turning to the three components of the GMI, European marketers expressed the most confidence about general trading conditions, as the index recorded its highest ever regional monthly value of 64.8 (+3.8 points).
While trading conditions in the rest of the world could not match those in Europe, the respective indices for the Americas (58.0) and Asia Pacific (55.9) also signalled steady improvement in September.
Europe also recorded the highest component reading for marketing budgets. The index in Europe was 58.7 (+3.2 points), equalling its previous record high value in December 2013.
Asia Pacific also recorded a significant index rise of 3.6 points to 51.8, signalling net budget growth for the region once again after a dip in August.
The index for marketing budgets dipped 2.9 points in the Americas to 51.3, causing the global average to record flat growth and a value of 53.3 in September.
However, the third component of the GMI showed that staffing levels remained the strongest in the Americas (58.8), followed by Europe (57.0) and Asia Pacific (55.9). The global average was 56.8.
Commenting on the findings, Suzy Young, data and journals director at Warc, said: "The headline GMI rose by 2 points in September, following four successive months of reduced growth." This would send "a positive signal to the wider global economy", she added.
Data sourced from Warc