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Monday, 14 July 2008

Bellwether report: Ad budgets see sharpest downturn since 9/11 attacks

Monday July 14, 2008

UK businesses are slashing their marketing and advertising budgets for the third quarter in a row in the sharpest downturn since the September 11 terrorist attacks in 2001, according to the latest Bellwether report published today by ad agency trade body the Institute of Practitioners in Advertising.

Internet marketing was the sole bright spot, with 19% of companies reporting a rise from the budgets set at the start of the year, and only 12% reporting a decline.

But even the growth of digital spend has slowed dramatically since the first quarter of 2008, when 27% of respondents reported an increase in their online marketing budgets since the start of the year.

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