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New marketing budgets survey released

The Institute of Communications and Advertising and Canada Post have released their survey of marketing budgets for the second quarter of the year. The data was collected by NTC Research from a panel of 270 senior Canadian marketing executives. According to the results, marketing budgets were revised up during the quarter, mainly in the areas of Internet and main media advertising. Twenty-one percent of the respondents reported an increase in their marketing budgets, while 13% reported a decline. According to the institute, this represents the weakest increase since the first quarter of 2006. "The latest upward revision to 2007 annual budget is particularly encouraging as it builds on already strong budget setting at the outset of the year and reflects healthy corporate balance sheets," said institute president Jani Yates. "This therefore bodes well for economic growth in the second half of 2007, although some moderation in the pace of expansion for the strong rate seen in Q1 is signalled."

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