Speaking to on the day of , Sorrell was upbeat about the group’s recovery since it reported organic revenue falling through the floor a year before.
He said: "We feel better about the environment. There have been sequential improvements, except for a mild flutter in June, but it has improved again in July, and so I think we feel pretty good about the rest of the year."
WPP, home to agencies JWT, Grey and Ogilvy & Mather, as well GroupM, Kantar and TNS, also stated it does not expect the economy to enter into a "double-dip" recession, but warned that growth will be uneven and at varying speeds.
Sorrell admitted: "There are two areas of concern: the first is Eurozone uncertainty – contagion, and the second is what’s going to happen in the US in 2011, where there is a significant degree of uncertainty – tax cuts, the Obama administration’s attitudes to business and profits and taxation, health care costs increasing.
"So it’s a little bit of a twilight zone at the moment. A little bit of uncertainty. CEOs, I think, are generally being cautious. They don’t want to have a downward adjustment to expectations, so I think they are on the cautious side."
A WPP statement today stressed "a significant recovery in revenue growth and profitability" for the first seven months of 2010, with July showing the strongest growth of all, up almost 7%.
It stated how the group's anticipated 'LUV' recovery for the world, relating to L-shaped in Western Europe, U-shaped in the United States and V-shaped in the Brics and Next 11, was evolving to more of an LVV-shape thanks to strong growth in North America.
It said: "Whilst politicians, journalists, economists, analysts and investors argue about double-dips, inflation or deflation, the most likely scenario is a slow growth "slog", particularly in the mature geographical markets and traditional media markets, perhaps with inflation and higher interest rates in the long-term."