LONDON: Global marketing activity grew in June, although there are signs that growth in marketing budgets is slowing, according to the latest Global Marketing Index (GMI).
The headline Global Marketing Index for June registered 54.9, slightly down on the 55.1 recorded in May and April, and Europe maintained its lead over Asia-Pacific and the Americas in terms of marketing activity.
Europe scored a regional GMI of 58.0 in June, although its value declined for the third successive month, while the GMIs for Asia-Pacific and the Americas both rose albeit at a slower pace.
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 conditions among marketers as well as their expectations in the three key areas of marketing budgets, trading conditions and staffing levels.
Based on reports from a global panel of 2,000+ members, GMI scores are rated positive or negative when set against a value of 50 that indicates no change from the previous month.
This month's results were collated only shortly after the UK's historic vote to leave the European Union, so whatever short to mid-term impact "Brexit" has on global marketing activity is expected to feed through in July's figures.
As it stands, global marketing budgets grew for the 40th consecutive month in June. Growth slowed in Europe for the third month in the row, remained unchanged in the Americas, but continued to fall in Asia-Pacific where the index value dropped below the benchmark 50.0 value for the fifth consecutive month.
Meanwhile, the index for global trading conditions increased by 0.9 in June with trading conditions improving in all regions, especially in Europe.
The staffing index, which reflects the number of staff recruited compared to the same period last year, slowed in June. While that still indicates rising employment in the marketing sector, the global staffing index nonetheless has declined for two consecutive months.
In terms of marketing channels, TV, press, radio and OOH all registered index values below 50.0 in June. However, OOH rose in both Europe and Asia-Pacific, indicating weak but positive growth.
Finally, TV's share of marketing budgets fell globally in June except in Europe, which showed solid growth, while the resources allocated to digital and mobile continued to grow around the world.
Data sourced from World Economics; additional content by Warc staff