LONDON: Marketing activity in Europe bounced back in October after six months of decline, while the Americas witnessed a fall and there was no real change in Asia-Pacific, the latest Global Marketing Index (GMI) has revealed.
The headline GMI for October registered 52.6, a value that was virtually unchanged from the previous month, and indicated a low level of worldwide marketing activity.
The Global Marketing Index, compiled by World Economics, provides a unique monthly indication of the state of the global marketing industry because it tracks current trading conditions among marketers as well as their expectations.
With a benchmark of 50.0 indicating "no change" and a score below that pointing to negative activity, it was noteworthy that the index for the Americas stood at 49.7 in October.
Looking at the index for global marketing budgets, World Economics reported that it scored 49.8 in October, which was up slightly from September, but still below the 50.0 "no change" level.
Marketing budgets fell in both the Americas and Asia-Pacific, but Europe bucked the trend with an index of 52.5, a rise of 1.5 points since September.
Meanwhile, the Americas recorded its fourth consecutive monthly fall and its marketing budgets index score was just 46.5 in October.
However, there was better news concerning global trading conditions as the index for this activity increased to 53.5 after four successive falls. Conditions improved in Europe and Asia-Pacific, but not in the Americas.
The staffing index, which reflects the number of staff hired compared to the same period last year, also saw global growth after registering a value of 54.6 in October.
Employment in the global marketing sector continued to rise, but the overall growth rate slowed with only Europe seeing an increase in the value of the staffing index.
The Americas recorded a staff index value of 51.1 and, after falling for six months in a row, the region is now approaching the 50.0 no growth level.
Turning to budget allocations, Europe was the only region to record growth in the money dedicated to TV (52.8) and out of home (50.9), but taken together traditional media saw continuing falls in the value of budgets allocated to them globally.
However, the report found that digital and mobile media again continued to grow strongly across all regions over the month.
Data sourced from World Economics; additional content by Warc staff