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Andrew Swinand is chatting on the phone when he stops short. It’s a brief pause as the CEO of Leo Burnett North America chooses his language carefully. Then he says it, a word uttered more frequently these days in hushed tones, often reluctantly: “Recession.”

“Some clients are quite bearish on 2019,” says Swinand, deliberately. “I’m in a position of meeting with a lot of C-level executives and people are battening down the hatches.”

Madison Avenue is as good an economic barometer as any as brands consult with their agencies while planning out their year. For 2019, retailers and consumer goods companies are already thinking about where they can find savings, and “start focusing on profitability instead of a growth mindset,” Swinand says.

Continue reading at AdAge.com