A survey published today from The Chartered Institute of Marketing (CIM) believes the worst of the recession could well be over.
CIM’s Marketing Trends Survey reveals that the number of marketers who believe the UK economy will worsen in the next 12 months has halved to 34% (down from 70% in the autumn 2008 survey). Likewise, those believing the UK economy will improve in the next 12 months has risen sharply to 26% (up from 11% in the autumn 2008 survey).
When questioned about the prospects for their own organisation in the year ahead, more marketers believe business will improve (35%) than believe it will get worse (24%) – reversing the decline in confidence seen in the previous four surveys.
However, marketers remain gloomy about the prospects for the rest of 2009. Almost three quarters (72%) of marketers surveyed said they did not think the UK economy would pull out of recession in 2009.
This is reflected in the all-time low annual sales performance forecast for this financial year – a 0.7% increase – down from 3.1% in autumn 2008 and down sharply from the 8.9% growth expected just two years ago.
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