This week's PRCA Leaders' Panel survey showed 65 per cent of agency MDs are optimistic about the UK economy, with 83 per cent believing their businesses will enjoy a strong year.
Golin Harris joint MD Matt Neale blamed recession fears on blanket coverage in the media. ‘Open a Sunday paper and you might want to end it all now,' he said. ‘We have not had a sniff of recessionary worries from any of our clients.'
AxiCom MD Lyle Closs said the financial woes of mortgage providers and investment companies were ‘self-inflicted' and claimed they would not affect the PR industry's growth.
PRCA director general Francis Ingham said the survey ‘puts the doom-mongers in their place', adding that new business pipelines were as busy as ever.
The findings come as Chancellor Alistair Darling this week warned of the worst economic slowdown in ten years. His comments coincided with a CBI survey showing a decline in retail figures.