U.K. marketing budgets are growing at their slowest rate since 2015, according to industry body the Institute for Practitioners in Advertising (IPA).
Figures saw their slowest rise for almost three years during the third quarter of 2018, according to the report.
The IPA's quarterly Bellwether report is researched by IHS Markit, which surveys around 300 marketing professionals in the U.K. Twenty-one percent of those questioned said they were increasing investment in the third quarter of 2018, but 18 percent said it would decline. Some on the panel said spending plans were on hold until the future of the U.K.'s relationship with the EU was clearer.
"With ongoing Brexit uncertainty, it is perhaps no wonder that companies are having to be more cautious with their marketing spend and are inevitably increasingly downcast about their financial prospects," said IPA Director General Paul Bainsfair in a statement emailed to CNBC.