LONDON: Global marketers registered another month of strong business activity in February, the second successive month that the Global Marketing Index (GMI) has increased.
The headline GMI rose 0.4 points in January to reach 58.1, indicating that panellists around the world are experiencing strong growth and buoyant marketing activity.
The Americas and Asia-Pacific regions again performed strongly, building on the gains they made in the previous month, but Europe recorded a slowdown in its rate of growth.
The headline index in February was 55.8 in Europe, a fall of 2.3 points in value, but 59.1 in the Americas and 59.6 in the Asia-Pacific region.
Compiled by World Economics, the GMI provides a unique monthly indicator of the state of the global marketing industry because it tracks current conditions for marketers as well as their expectations for trading conditions, marketing budgets and staffing levels.
On the first of these measures, trading conditions were strong in each region even though they fell in Europe and the Americas.
The index for trading conditions in Europe fell by 1.2 in February to reach 56.7, the region's third successive monthly decrease. The index was also down 1.2 in the Americas, to a value of 58.2, but it increased by 2.1 in Asia-Pacific to 64.7.
Although the index for global marketing budgets fell by 0.9 in February to register a value of 54.7, this was the 26th consecutive month that the index registered panellists reporting increases to their budgets.
In terms of medium, the index for expenditure on mobile rose 0.5 to reach 73.0 in February, which was a very high growth rate in the resources allocated.
The growth rate of digital was also very high in February with an index value of 75.5, although this was down by 1.3 points on the previous month.
And after four months of falling budgets, the index for TV budgets rose slightly to 50.6, up by 1.5 on the previous month.
Finally, the staffing level index registered a value of 59.4 in February, up by 1.2 on the previous month in a sign that marketing departments are still recruiting. It was particularly strong in the Americas where the index rose 3.3 to reach 62.7.
Commenting on the findings, Ed Jones, the chief executive of World Economics, said: "The Headline Global Marketing Index reading for February indicates that marketers are seeing strong business activity and showing solid growth in all regions with a notable acceleration reported in the Americas."
Data sourced from World Economics, Warc