The period of decline for market research budgets now stretches to six quarters: nearly 13% of the 300 marketing professionals surveyed reported a cut to their market research budgets, while 10% revealed a rise.

Respondents were said to be ‘broadly neutral’ on the prospects of their budgets growing in 2017/18, based on preliminary figures for the year ahead. 

In contrast, marketing budgets extended a record run of growth to over four years, with events and online marketing remaining the best performing sub-categories. 

“After a year of well-publicised doom and gloom, Bellwether provides some welcome positive news," said Paul Bainsfair, director general of the IPA. "With marketers revising their budgets up yet again, the industry ends the year on a high.

"Furthermore, it is reassuring that despite the slight fall in adspend predicted by Bellwether in 2017 due to Brexit negotiations, growth is forecast for both 2016 and 2018.”

Full findings can be found here.