Corporate spending has been cautious and intermittent after the post-Covid 'bounceback'
This month the Chartered Institute of Procurement & Supply said the UK services sector grew by the slowest rate of the year in July and would continue to “flatline at best” in the coming months. Chief economist John Glen said: “In response to interest rate hikes throughout the summer businesses are rethinking their investment plans and focusing on paying higher wage bills and brutal business costs instead of expanding their portfolio.
But the medium-term outlook for the notoriously agile marketing sector is encouraging. While AI has been encouraging bosses to rethink, it’s likely to quickly result in more profitable firms, with a wealth of new business and content opportunities emerging.
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