LONDON: PR agencies in Great Britain are revising their income forecasts upward for 2004 and are expecting to take on additional staff, according to the second Communications Agencies Federation (CAF) Agency Barometer.
The survey found that 65% of agencies are increasing their income forecasts for 2004, with new media activity being the most buoyant area.
The findings reflect those in the Q4 2003 Bellwether Report, which surveyed the opinions of client companies and indicated an overall positive outlook for marketing.
In the PR agency world, 47% of respondents indicated that they were likely to increase full-time head counts in the next six months, while 57% of agencies reported that they had revised income forecasts upward in Q4 since the third quarter.
But Graham Lancaster, chairman of the CAF and the Public Relations Consultants Association, advised caution in interpreting the results too positively.
The survey's budget forecast findings "mirror what clients are saying, and they know best, as it is their budget," Lancaster said. "But I stress it is from a low base."
The findings cover the fourth quarter of 2003.