Advertising spending up again as optimism soars

Advertising spend has increased in the first three months of the year, the third-consecutive quarter of growth, a leading survey showed yesterday.

Marketing directors are almost at their most optimistic for two years, ahead of the Diamond Jubilee and the London Olympics.

The Institute of Practitioners in Advertising's (IPA) quarterly Bellwether Report admitted growth was "modest" but said it was fresh evidence that the UK economy has managed to avoid falling back into recession.

"Business confidence is returning," said IPA president Nicola Mendelsohn.

"There is no doubt that key events such as the London 2012 Games and the Queen's Diamond Jubilee will do much to ensure that marketing spend continues to rise."