Growth in UK firms' marketing budgets slowest since start of 2016 [Reuters (UK)]
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Source: Reuters
Growth in UK firms' marketing budgets slowest since start of 2016 | Reuters Reuters Staff 3 Min Read (Reuters) - British businesses’ marketing budgets rose at the slowest pace since the start of 2016 in the first quarter as challenging market conditions continued to put pressure on companies, an industry survey showed on Wednesday. The IPA Bellwether report, conducted by IHS Markit, showed that 22.9 percent of companies increased their marketing budgets in the quarter, compared with 17.9 percent of firms that recorded a fall. The resulting net rise of 5 percent compares with an increase of 8.6 percent increase in the previous quarter and marks the lowest recorded by the survey for two years. “Rising costs and the ongoing uncertainty that exists over the future direction of the UK economy in a post Brexit world have led to caution and belt-tightening across a number of sectors, especially those more exposed to retail and consumption,” Paul Smith, Director at IHS Markit said. Around 300
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