Durham, N.C.—Chief marketing officers are more optimistic about the economy than they were six months ago, according to a new study from Duke University's Fuqua School of Business.
The study was based on an online survey of 269 CMOs conducted in February.
It found that the average level of optimism about the U.S. economy is 63.4, on a scale of zero to 100, with 100 being most optimistic. This is up 11 points from the optimism level last August, when the study was last conducted.
The survey also found that CMOs expect spending on traditional advertising to plummet 161.5% over the next 12 months, while spending on online marketing is expected to increase 14.3% over the same period.