Gloomy outlook for marketing

A QUARTER of marketing executives cut their budgets in the first quarter of this year in the worst crisis of confidence since the height of the recession in 2009. Just 20 per cent increased their spending, according to a bellwether report for the Institute of Practitioners in Advertising.

Almost 38 per cent of respondents to the survey, produced with BDO by Markit Economics, said they were more worried about their industry than they were three months ago, with just 26 per cent more confident.