Now for the bad news: 28 markets show revenues decline after inflation, including 10 of the top 25 markets, says the industry association’s annual Global Market Research Report.

Esomar president Gunilla Broadbent said: “Our strong industry growth rate may have reached an inflection point in some regions but this is clearly linked to the economic downturn. The sustained growth in some emerging markets, particularly Latin America, is encouraging”

North America is responsible for nearly one third of all global marketing research revenue and was most clearly impacted by the downturn, Esomar said. US growth was 1.6% year-on-year, but after adjustment for inflation, net growth was a negative 2.1%. Canada, meanwhile was down 2.2% after inflation. 

In Europe growth slowed to 4.7% ( 0.9% after inflation), but the UK and Germany managed to buck the trend afflicting the more mature research market with net growth of 2.5% each. 

Latin America, meanwhile, was the strongest performing region with revenue up 5.6% after inflation ( 13.4% actual). Argentina, Peru and Panama all experienced double-digit gains after inflation. The previously buoyant Asia Pacific region shows a softening in growth rates however, Esomar said. It achieved 6.3% year-to-year growth and just 2.1% after inflation.

_{Esomar estimates. Rounded figures presented. Growth rates calculated in local currencies. Exchange rates fluctuations eliminated. Full Global Market Research Report will be available from 16 September.}