"The post-Autumn Budget rebound was a shallow one, indicating that companies trod carefully," explains Joe Hayes, principal economist at S&P Global Market Intelligence.
Despite the upturn, the figure was the second-lowest recorded since the start of 2021, revealing marketers' continued caution amid economic and political challenges.
Over a fifth (21.7%) of panellists reported a rise in their total marketing budgets during Q4 2024, reflecting cautious optimism among marketers.
Looking further into main media's categories, audio saw the most dramatic decline with a net balance of -17.4%, showcasing challenges in certain advertising sectors.
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