Leading market analysis firm Warc has said the outlook for global marketing remains positive, with budgets rising for the fifth consecutive month in May.
Marketers are showing continuing confidence in the state of the industry, according to the latest results from Warc’s monthly Global Marketing Index (GMI). The latest result marks its healthiest since the index began in 2011.
Each month the GMI tracks conditions among marketers within their organisation and region, with a GMI reading of 50 indicating no change, and above 60 indicating rapid growth.
This month Asia-Pacific's index increased to 53.8, while in the Americas index for marketing budgets rose 3.2 points to 58.0, the highest regional figure for marketing budgets recorded so far. Europe, on the other hand, slipped back below 50 to 49.7.
The headline GMI measure – which takes into account marketers' expectations for trading conditions, staffing levels and marketing budgets – registered a global value of 56.5 in May, identical to the reading from April.
The index of global trading conditions, the second component of headline GMI, continues to perform strongly, registering a value of 59.1 globally – again identical to April’s result.
Regional index values stand at 60.8 for the Americas, 59.9 for Asia-Pacific and 56.1 for Europe.
Suzy Young, data and journals director at Warc, said: "Global marketing budgets have been raised for a fifth consecutive month but, while budgets show growth in all global regions, European marketers are slightly less optimistic than they were in April. It will be interesting to see whether this trend continues next month."