LONDON: Global marketing budgets remain in flux, as the favourable trends of the last two months have now visibly moderated, Warc's latest Global Marketing Index has revealed.

Based on data from a panel of 1,295 executives, the barometer of marketing spend stood at 50.3 points in May, where scores over 50 points indicate positive sentiment and totals below this level are negative.

The figures for May, however, fell from 53.7 points in April and 51.5 points in March, the only two months previously bettering the 50-point benchmark since the first GMI in October 2011.

One primary factor behind this drop off, according to the study, is the on-going financial difficulty currently being experienced in much of Europe.

"As the eurozone enters yet another period of crisis, with the outcome uncertain until the Greeks head to the polls again on June 17, it is not surprising that marketers have chosen to limit spend at this time," Suzy Young, Warc's data editor, said. "I would expect similar trends to be repeated in June."

Within the returns for May, participants in Europe posted 47 points, down 3.4 points on April. Optimism was stronger in the Americas, at 53.0 points, but still off from 57.4 points during the same timeframe.

The climate for marketers proved more stable across Asia Pacific, where ratings softened from 53.1 points last month 51.2 points at present.

By media channel, digital logged 76.9 points and mobile recorded 68.5 points, suggesting these platforms are attracting greater attention from brand owners.

Television received 49.7 points in May, a slide from 51.6 points in April. Out of home was on 47.2 points, well ahead of radio and press, on 41.0 points and 35.6 points respectively.

More broadly, the headline GMI reading – including marketing spend, staffing plans and general trading conditions – came in at 55.3 points, a slight contraction when measured against April.

Similarly, the indices monitoring the trading climate and headcounts both also declined month on month, but did each come in at over 55 points apiece.

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Data sourced from Warc