BRUSSELS: Contrary to popular perception, the European advertising business has seen a significant rise in confidence at the beginning of 2018, following six months of low positivity.
This is according to the European Association of Communications Agencies (EACA)’s latest Advertising Business Climate Index for April, which found that confidence in the ad industry increased 12 points from +1 in January 2018 to +13 in April 2018, the highest peak since the end of 2016.
Bizarrely, much of this growth is written by the continent’s largest advertising market, which also happens to be a market currently trying to exit the EU. The confidence index in the UK has risen 75.4 points from -26.2 in the first quarter of this year to 49.2.
The UK has gone from having the second lowest score measured across all the countries in the last quarter to now having the highest. Other advertising markets growing in confidence are France and Italy increasing respectively from +1 to +4 and -28 to -18 over the last quarter.
Unsurprisingly, Greece has returned to the least confident ad market, having overtaken Italy – previously the least confident country – with -35 points, having declined 25 points over the previous quarter.
Across the whole continent, and despite poor expectations, the evolution of demand taken as a whole in the beginning of 2018 has increased from +1 to +16 and the evolution of employment has risen from +8 to +11 between Q4/2017 and Q1/2018.
The most improved countries are, of course the UK, and then Estonia, whose business confidence rose from -4 to +8.
Sourced from EACA