American CMOs are more optimistic about the overall economy than they have been in years, and with that optimism comes renewed enthusiasm with respect to marketing budgets, finds the latest edition of the biannual CMO Survey [PDF] from Duke University’s Fuqua School of Business. Indeed, respondents expect budgets to increase by 8.7% over the next year, the highest percentage change forecast since August 2011.
Interestingly, not all sectors are expecting such changes. B2B product (9.1%) and services (9.2%) companies are significantly more enthusiastic than last year in their projections, as are B2C services companies, now forecasting a 13.4% increase after a 5.8% growth forecast last year. But it’s a different story for B2C product companies: these respondents expect just a 5% increase in budgets this year, down from a predicted 7.1% increase in last year’s survey. Read the rest at MarketingCharts.