A report by international marketing and ad spend tracking firm Warc says marketing budgets in the Asia Pacific region and Europe plummeted in August, hitting their lowest levels this year.
The firm's Global Marketing Index (GMI) said the Asia Pacific index fell to 52.6, compared to 53 in July, and 57.1 in May.
“The deteriorating outlook is largely due to declining confidence in the Asia Pacific region, where marketing budgets were shown to be generally decreasing in August,” said Warc. “With financial troubles in the Eurozone ongoing, European marketing budgets also recorded a drop this month.”
The marketing intelligence firm did report a global improvement in trading conditions, and a rise in staffing levels in Asia, Europe and the Americas market. However, it said budgets were under pressure.
“Marketers in Asia Pacific and Europe are reducing budgets,” said Suzy Young, Data Editor at Warc. “In the months ahead, it will be interesting to see if the sudden dip for Asia Pacific is representative of a more deep-rooted downturn.”
The American GMI data for the month of August showed a slight improvement compared with last month.
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