In wave 13 of the study, RSM found confidence in the sector had dipped more than confidence in the overall economy, with 29% expecting things to get worse compared to 16% expecting an improvement in the next 12 months. However respondents were generally more confident about the financial health of the business for which they work.

Overall, forecast growth for ‘revenues/spend’ in the next 12 months is 5% – in line with May 2012’s prediction of 5.1%.

However, RSM cautioned that “researchers have generally overestimated growth in their forecasts in our survey”, adding the latest wave indicates a continuation of “fairly flat” market data that has been noticeable over the last two years. The web-based survey was completed by 268 UK-based researchers in November/December 2012.