WPP sounds the alarm: Industry optimism is misplaced, economic growth is tepid, clients are risk-averse and there is no upside on the way

Tim Burrowes

August 26, 2015 5:58

Sorrell: Brands are cutting costs not going for growth

WPP is the world’s largest communications group, owning a string of creative, media, PR, research and digital agencies. Sorrell is one of the world’s most listened-to economic commentators, with the downbeat outlook offering the gloomiest tone from WPP since the Global Financial Crisis.

The comments come on top of three days of turmoil on the global financial markets.

According to the WPP commentary accompanying its annual results announcement – which includes a healthy growth in profits and revenues for the company over the last 12 months – global gross domestic product is slowing. He warned:

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.