LONDON: Global marketing budgets increased for the 38th month in succession in April with all regions covered in the latest Global Marketing Index (GMI) recording growth.
The Global GMI registered a score of 55.1, which signals steady growth over the month when set against the benchmark of 50.0 that indicates no change.
As in previous months, marketing activity was particularly strong in Europe, which recorded a headline GMI of 59.0. While this was a slight decline from the 59.2 posted in March, it was still indicative of "very strong and sustained levels of business activity". By comparison, the headline GMI in the Americas was 52.2.
The Global Marketing Index, compiled by World Economics, provides a unique monthly indicator of the state of the global marketing industry because it tracks current conditions among marketers and their expectations in the three key areas of marketing budgets, trading conditions and staffing levels.
Digital and mobile advertising budgets continued to grow rapidly across all regions, although budgets allocated to press, radio and out-of-home fell again in April.
Similarly, budgets allocated to TV declined in April to record an index value of 48.6, which took TV budgets below the 50.0 "no change" benchmark.
However, the TV index was pulled down by weaker activity in Asia-Pacific and the Americas whereas Europe saw strong growth to take its TV index to 55.9.
Meanwhile, the GMI's Staffing Index, which reflects the number of staff hired compared to the same period last year, increased to 58.1 in April, its fourth consecutive monthly rise. Staffing levels increased in Europe and the Americas, but fell slightly in Asia-Pacific.
Finally, the report noted that the global Trading Conditions Index stood at 54.5 in April after slowly easing over the past 14 months.
"This indicates that if an overall slowdown in global marketing activity continues, marketers will start to experience more challenging conditions next year," the report said.
Data sourced from World Economics; additional content from Warc staff