Turnaround? "We Have Not Seen It," Says Sorrell

Sir Martin Sorrell, head of global ad conglomerate WPP, tells CNBC in this clip that if there’s been a turnaround “we have not seen it.” He allowed that ad revenues may be lagging indicator.

Going forward, Sir Martin says we’ll see a “LUV” recovery: a Little recovery in Europe, a U-shaped one in the United States, and a V-shaped one in Asia.

He said growth for his industry will come from emerging markets, digital media, and because habits have changed, consumer and corporate insight to find out how people are spending money now.

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