A report from the European Association of Communications Agencies (EACA) has revealed that European agencies as a whole are increasingly optimistic about the future of the industry.
The European Advertising Business Climate Index, collected information from 43,000 companies across all EU countries. The survey revealed that across Europe, business confidence has risen from -2 to +15 in the first 6 months of 2015.
While agencies in all areas of Europe expect an increase in demand for their services the greatest change was seen amongst those categorised as Mediterranean Europe such as Spain, Italy and Malta. Overall Italian agencies reported the greatest positive change in confidence levels, from -15 to +18 since the start of 2015.
This increasing optimism is based on positive results from the past three months with respondents reporting increases in both demand for services and employee numbers over that period.
Demand for services was cited as the single biggest factor that is currently limiting business growth. On average agencies reported operating at 88% of their current capacity.
David Patton, EACA President commented that “Increasing confidence is a sure sign of economic recovery and while there are still problem areas, the overall picture is one of steady improvement.”
The full EACA report can be found here