WPP’s Sorrell – expect an L-shaped recession

WPP boss Sir Martin Sorrell – the man who famously described the last downturn as “bath-shaped” has predicted that this recession will be “L-shaped”.  

Speaking in London, he said: “The first half of 2009 will be very tough, and the second half relatively better…relative to the first half. And in 2010 we will see a recovery — what we called in our recent trading statement ‘a recovery of sorts’.”

An L-shaped recession is seen as a dramatic downturn, followed by a long flat period.

In Sorrell’s speech, reported by Brand Republic, he said that China and new media would be the global holding group’s priorities.

WPP’s brands in Australia include media agencies Mindshare, Mediacom, Mediaedge:CIA and Maxus, ad agencies JWT and Grey, and PR agencies Hill & Knowlton and Burson-Marsteller.

Tim Burrowes

Tim Burrowes founded Mumbrella in 2008. He worked on Mumbrella until 2021. At various points he was editor, content director and editor-at-large.

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topics Martin Sorrell WPP

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