LONDON, Oct 17 (Reuters) - The number of British companiesincreasing their marketing spend grew at its strongest pace in13 years in the third quarter, signalling growing optimism aboutthe economy, an industry survey showed on Thursday.
The IPA Bellwether report said a net balance of 12.3 percentof companies registered an increase in budgets in the thirdquarter, against 7.3 percent in the second quarter, the biggestupward-revision of spending since the survey began at the startof 2000.
The numbers add to recent signs of improving businessconfidence in Britain and improved macro-economic data. Theyalso chime with comments from the industry, with WPP,the world's largest advertising agency, having in Augustslightly raised its 2013 forecast due to rising revenue.
Britain's economy grew by 0.8 percent the third quarter,helped by a rise in industrial output, the National Institute ofEconomic and Social Research said last week.
"This latest Bellwether report indicates companies arebeginning to move forward, away from recession and that the UKeconomy is on the rise again," said IPA Director General PaulBainsfair.
"This optimism will send a continued upbeat message to theadvertising industry and wider economy," he added.
The survey found companies were dedicating more of theirmarketing spend to the Internet, with a net balance of 11.7percent choosing to boost their coverage online.
Main media advertising also saw a second successive periodof growth, its strongest rise since Q3 2010, however budgets forpublic relations, events and direct marketing all saw netreductions.
The IPA Bellwether report was drawn up from a survey of 300companies based in Britain.
WPP (WPP)
