British companies will increase ad budgets this year notwithstanding Brexit uncertainty

British companies will increase ad budgets this year notwithstanding Brexit uncertainty

UK companies are on the verge of increasing their spending on advertising in 2017, as they really expect the British economy to remain resilient notwithstanding the Brexit vote, as a poll disclosed on Wednesday, thus reversing a previous forecast for a drop in ad budgets.

The IPA Bellwether report suggested that corporate ad spending would ascend 0.6% in the current financial year, thus undermining October’s forecast for a 0.7% dip.

The poll, carried out by IHS Markit on behalf of the Institute of Practitioners in Advertising, stated that a 26.1% net balance of British companies showed they would lift their advertising budgets in the 2017/18 financial year.

Next year surge in ad spending would stagnate before trending upwards again in 2019 as well as 2020, as the showed.

The poll actually paints a picture of the solidly surging British economy, with UK companies continuing to demonstrate a readiness to commit increased resources to marketing and also capitalize on current positive sales trends. 

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