Sir Martin Sorrell, who has Russian, Poland and Romanian Jewish roots and is head of the WPP group, a leader in communications and advertising, told The Times about how he thinks 2015 will shape up for the business world.
While Sorrell sees the U.S. and China as trouncing Europe in 2015, he thinks Britain is healthier economically than the Continent, and praised chancellor George Osbourne for keeping the U.K.’s economy strong. The problem with Europe is that “pre-cash confidence blurred into irrational exuberance, and post crash insecurity has produced an excess of caution” even six years down the road.
Uncertainty about the upcoming general election might cause some tremors in the economy, but he foresees a 5.7% uptick in advertising spending. He said glowing things about American business, “Buoyed by energy of self-sufficiency through sale gas and high-value manufacturing, driven by sophisticated capital-intensive techniques such a robotics and 3D printing, America’s prospects are good. It’s own deficit-wrangling aside, the US has been enjoying positive economic news. Production is on the up, as are employment figures and retail sales.”