Advertising giant warns of 'first signs of Brexit anxiety'

Posted in Google Brexit News
at 2016.10.31
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Advertising giant warns of 'first signs of Brexit anxiety'

WPP chief executive Martin Sorrell

WPP says nervousness about the economy may be to blame for a slowdown in UK revenues.

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Updated

The advertising giant WPP said it may be seeing “the first signs of Brexit anxiety” after revenue growth in its U.K. business slowed by more than 1 percent in the latest quarter.

WPP, the world’s largest advertising group, whose businesses include Ogilvy & Mather, Young and Rubicam and Burson-Marsteller, grew like-for-like revenues in the U.K. by 2.1 percent in the third quarter, down from 3.5 percent in the second, according to a trading update published Monday.

“Perhaps, the first signs of Brexit anxiety,” the company said.

Advertising and marketing spending is closely watched as an indicator of corporate confidence, as it is often one of the first things that companies cut when the economy turns downward.

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Published at Mon, 31 Oct 2016 11:10:56 +0000

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