Events advertising registered solid budget growth during the second quarter, extending the increase which has been recorded in recent quarters.
The net balance of marketing executives recording growth in events budgets increased from +3.4% to +4.8% in the second quarter, according to the quarterly IPA Bellwether report.
Aside from main media and internet marketing, events was the only other Bellwether category to expand during Q2. Overall growth in the first quarter proved to be temporary as no change was registered in marketing budgets in Q2.
Paul Bainsfair, IPA director general, said: "Until a clearer political and economic path is outlined, the vast majority of companies are locked in stasis.
"It is reassuring to see, however, that some companies are revising up their investment in main media advertising; this is where they will build the longer term growth of their brands, which is crucial to weathering these tougher times."
The report cites rising political and economic uncertainty as a key factor generating caution among businesses. With the possibility of the UK economy contracting in the second quarter, businesses are looking to contain costs and shield against challenging demand conditions.
Amid ongoing Brexit uncertainty, Bellwether expects only a 1.1% annual increase in advertising spend over the year as a whole.
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