Are businesses getting ready to re-open their wallets?
Marketing expenses at Wells Fargo increased by 70.4 percent from the second to the third quarter, jumping from $71 million to $121 million. U.S. Bank saw an increase in its marketing budget of 64 percent quarter to quarter, actually doubling the figure of one year earlier (roughly $52 million to $105 million). Bank of America’s marketing spending increased from $257.6 million in the second quarter of 2009 to $282.1 million in the third quarter. (US Banker, 1/10)
Are these increases in marketing expenses the first signals of corporate spending – a category missing from the much-touted economic “green shoots” – becoming vibrant again?
Ken Hey
Tags: Business Spending
