Marketing executives make new budget cuts

Marketing executives reported a second successive downward revision to total marketing budgets in the third quarter of 2012, the Institute of Practitioners in Advertising said.

The degree to which budgets were cut was sharper, with a net balance of minus 5.5 per cent of companies registering reductions in marketing spend, the lowest since the end of 2009, and against a net balance of minus 1.1 per cent in Q2. Some 23 per cent indicated a downward revision to budgets, against just under 18 per cent signalling a rise.