Ad men celebrate as spending cuts slow

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A survey by the Institute of Practioners in Advertising (IPA) and BDO found 28% reporting a fall in marketing budgets against 13% seeing a rise. The net difference of -15% compares with -48% in the final quarter of last year as the financial crisis raged and -28% for the quarter to end-June.

But it was the respondents' view on their future financial prospects which came out most strongly with 47% seeing an improvement — the highest since the last quarter of 2006.

"Although marketing spend is still falling, this latest bell-wether is an encouraging sign that budget cutting is slowing," said Rory Sutherland, IPA President and vice-chairman of Ogilvy Group UK.

"Whilst companies are still understandably wary, the report reveals a strong rise in business confidence and the suggestion that GDP may well have risen in Q3. It will be interesting to see whether the rise in internet spend will presage an upturn in other categories."

The IPA survey contrasts sharply with the recent report by media buying agency Carat which saw no recovery in the UK ad market until 2011.