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NEWS20 February 2012

UK research professionals ‘less confident’ for 2012

UK

UK— Research professionals are predicting slower growth this year than they were last year, with forecasts revised down from 4.3% to 4%, according to the results of RSM’s latest State of the Industry survey.

Growth predictions made in the April 2011 wave of the survey have already been shown to be overly optimistic, with reported growth for the 12 months to December pegged at 2.9% – although this figure was up on the 2.2% reported for the 12 months to April 2011.

RSM suggested “confidence is falling” within the sector. Only 35% of the 238 respondents said they felt positive about the sector, 38% were neutral and 27% were negative.

Smaller agencies – those with up to four employees – “continue to experience and expect a more challenging trading environment”, said RSM, with 47%reporting decreased revenue/budget over the last 12 months and only 29% expecting revenue to rise over the next year.

The full results of the RSM survey, wave 11, are due to be released shortly.

@RESEARCH LIVE

3 Comments

8 years ago

What is about this industry and its continual enthusiasm for anxiety and auto-flagellation? We talk ourselves down, knock anyone trying to do anything different or innovative or using new technology**, and then we wonder why few graduates or innovation-minded young people have heard of market research, let alone want to work in this field. Was research always this pessimistic, even in pre-2007 boom times? Something about research & introverts? What is it - I'd love to know! ** see 'And the winner isn't....' re. social media Oscars predictions http://www.research-live.com/comment/and-the-winner-isnt/4006959.article

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8 years ago

Jay, I'm not sure that anxiety over the economy is unique to market researchers at this point in time. There's plenty in the more 'extroverted' worlds of banking and high finance who fear the worst is yet to come.

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8 years ago

Jay, why are you knocking research and talking it down then?! These generalisations are a bit weird. "We" don't do any of the things you complain about. As far as I'm concerned, we work in an industry that is diverse, innovative, and full of interesting positive people. The state of the economy is another thing altogether...

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