Business Confidence Slips

The Chartered Institute of Marketing published its quarterly Marketing Trends Survey today.

The report reveals that economic confidence has fallen in the three months since Labour came to power. Marketers are blaming rising interest rates and an over-valued pound for their cautionary frame of minds. Respondents are also forecasting average price rises of 1.5%.

It is not all doom and gloom, however, marketers are still planning for 5.3% volume sales growth this year and a slight increase in cash sales growth from 6.7% in April to 6.9%.

Steve Cuthbert, director general of CIM, says: “Marketers are exercising caution as the country settles down under New Labour. On the whole, the outlook is positive with business planning for steady growth under the new government.”

CIM: 01628 427 033