Journalists apparently hung on to Sir Martin Sorrell’s every word at the WPP Q3 results announcement on Friday. Not to hear that WPP report revenues of £2.01 billion for July to September (up 6.7 per cent on the same months last year) but to learn the adman’s latest thinking on the shape of the recession.

They weren’t disappointed. Sorrell reckons that we are set to experience an “LUV”-shaped world economic recovery:

• L-shaped for Western Europe
• U-shaped for North America
• V-shaped for the BRICs and Next 11

Delegates attending this year’s PRCA and CorpComms Conference had the benefit of hearing Sorrell’s wisdom three weeks earlier – which is no surprise given that its based on a blog post from July by Stella Dawson, Thomson Reuters’ Treasury Correspondent.