When you meet people in work-related situations, they always ask “How’s business?”  But recently, they’ve been asking with more interest than usual.  It’s not because of greater concern for my welfare:  it’s because agencies like this one are seen as leading indicators for the economy generally.  A bit like canaries in coal-mines, when we stop tweeting and start wobbling on our perches everyone knows that the rest of the economy won’t be far behind.

For the last few months, I’ve been answerin the questions with exactly the same remarks as I’ve made for the last couple of years, only with the words “so far” appended.  “Business is fine, thanks.  So far.”  Or: “Things are going pretty well here.  So far.”  Or:  “Well, you know, we’re generally feeling pretty good about life.  So far.”  And so on.

Anyway.  Just to let you know that on Friday, we had the first of Those Client Phone Calls.  The ones that go “Nothing to worry about, but the Exec Committee has decided that it makes sense for the time being to put a short-term hold on discretionary spending, at least until we’ve got the half-year results out of the way.  Let’s carry on getting the campaign ready to run, but I think it would make sense not to firm up the media schedule at this stage.  And maybe to unpencil the bookings we’ve already pencilled.  As I say, nothing to worry about.”

So.  Sorry to have to share this with you, but I think we’re coming to the end of the “so far” phase.  From now on, as far as this much-forecast downturn is concerned, it looks as if “so near” is closer to it.