GroupM raises growth forecasts for 2016 and 2017
WPP's Group M has raised growth forecasts for both 2016 (6.3 to 7.25%) and 2017 (5.8 to 7.2%), saying that the short-term impact of Brexit has been "negligible" with the longer-term effect being "unknown." The forecasts have been bolstered by strong digital ads growth. However, traditional media is predicted to decline from -1.1 to 2.6% in 2016 and 0.5 to -1.4% in 2017.

Advertising giant WPP’s Group M media arm has shrugged off the Brexit vote after raising growth forecasts for both 2016 and 2017 on the back of strong growth in digital advertising.

Prominent remain campaigner Sir Martin Sorrell had warned of the adverse impact of a vote to leave in June but has now described the short-term impact of the decision as ‘negligible’.