GLOBAL: Global marketing confidence remained steady during November, with that in Europe picking up after the previous month's dip and Asia-Pacific falling back slightly according to the latest Global Marketing Index (GMI).
The headline GMI for the month stood at 56.5, a marginal monthly increase of 0.2 points. Europe had moved up from October's index figure of 57.2 to 58.1, while Asia-Pacific slipped from 56.4 to 55.9 and the Americas remained unchanged on 55.9.
The Global Marketing Index, produced by World Economics, is a unique monthly indicator of the state of the global marketing industry which tracks marketers' expectations in three key areas – trading conditions, marketing budgets and staffing levels. A reading of 50 indicates no change while 60+ indicates rapid growth.
Trading conditions were strong across the board, with both Europe and Asia-Pacific recording rises to take their indexes for this metric back above 60. In the case of the former a 1.9 point increase to 61.4 was a welcome counter to the 5.3 point decline recorded in October; for the latter, a 2.1 point rise to 62.1 continued the strong performance of the previous month. The Americas was steady on 59.0.
While the overall index for marketing budgets remained in positive territory, it eased down 0.6 points to stand at 53.4, marking the 23rd successive month that panellists have reported rises in the amount of resources devoted to marketing.
The greatest optimism was to be seen in Europe, where the index rose 1.1 points to 56.0, reversing the trend of the previous month. But the Americas were down 1.5 to 52.0, and Asia-Pacific was edging close to the point at which marketers report falling expenditure, as its index dropped 4.3 to 50.9.
The final component of the GMI, the index of staffing levels, stood at 55.9, slightly up on October, and indicating that marketing departments are still adding staff. Regionally, the index rose 1.5 in the Americas and 0.8 in Asia-Pacific but slipped back 0.5 in Europe.
Ed Jones, World Economics chief executive, remarked that the figures showed strong business activity and solid growth. "The only media increasing their share of advertising budgets in all regions were digital and mobile," he added.
Data sourced from World Economics; additional content by Warc staff