By Claire West

The world’s largest advertising and marketing group WPP have announced half year pre-tax profits of £244 Million — up by 36%.

Often seen as a leading indicator of future economic trends WPP believes that the global economy has probably avoided a ‘double-dip’.

WPP said that; “the results reflect the recovery in the world economy, following the massive fiscal and monetary stimulus in response to the sub-prime, insurance monoline, Lehman and other elements of the crises.”

WPP suggests that “The world is growing at least three different speeds. Even Europe, it can be said, is growing at different speeds — Germany and Eastern Europe growing faster than Western Europe.”

Using a football analogy WPP puts “the BRICs (Brazil, Russia, India, China) and Next 11 (emerging economies; Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, the Philippines, Turkey and Vietnam) digital media and consumer insight” into the Premier League. The United States and Television “both big and resourceful, never to be under-estimated” are in The Championship. Western Europe and traditional print media make up Division One.