London—Marketing budgets and hiring worldwide were scaled back in June, according to a report from marketing services information company Warc, as confidence fell in response to the Eurozone debt crisis and an economic slowdown in China.
Warc's overall index fell to 52.4 in June, down from 55.3 in May, indicating the slowing of growth. The company's index pegs a score of 50 as a median level of confidence, with scores below that indicating declining confidence.
The Americas remained the world's most optimistic region. Its Warc index score of 53.8 in June still indicated growth, although a bit slower than in May (56.2) and April (61.3).
Warc's study was based on an online survey of 1,295 members of its global panel of brand and media owners, agencies and other marketing companies.