What then is the forecast outlook for 2014 ? What are the head and tailwinds for businesses and economies ? How will the global market shape up ? Tough questions, all of them....
However, one must say that globally things are looking up. Economic data released in the US showed the number of Americans applying for unemployment benefits fell 42,000 last week, the biggest drop since November 2012. The US GDP data is showing remarkable improvement, albeit ably aided by the shopping season buoyancy. A similar story in the UK and many EU countries. Japan, thanks to a wholesomely weaker Yen is showing best-ever-in-a-very-long-time level of activity.
However, countries like India, China are not looking as glossy. India stares at 4% and China targets a 7.5% growth. So the least that one can predict about 2014 is that the once depressed economies will rise and shine. The concomitant impact of this surge will be probably felt around the third quarter of 2014 and later. By that time a new government in India will be well in place with 100 plus days in office. Hence, in India, one sees a plethora of opportunities in the last quarter of 2014. Having been in the dumps for quite some time, one expects a trend reversal, renewed interest in consumer spends, infrastructure and everything in between. The learnings of 2013 is expected to play a role in politics and polity alike. Things are expected to look up significantly from 2013..
The advertising industry, a lag indicator, will continue to lie low and languish throughout 2014 and revival is expected only in the first half of 2015. Till then marketers will have to bide time with more innovation, tighter budgets and resources.