Ipsos has reported a 3.2% decline in first half revenues to €447.8m, compared with the same period in 2008 and states that it would be unrealistic to hope for the second half of 2009 to be much better. Ipsos sustained a fall in revenues for the first time since 1977. Despite a slight slowdown in the decline in revenues on a like-for-like basis in the second quarter to -4.6% compared with -5.1% in the first quarter, cumulative first-half revenues reflect the scale of the crisis and the resulting changes in client behaviour. Growth remained positive in emerging markets, which now account for 27% of the Group's revenues - compared with 25% in 2008 - with average organic growth of 3.5%. In North America, significant improvement was seen in the second quarter as expected. In the second quarter alone, business volumes fell by 3.2% following a 15.5% fall in the first quarter. Meanwhile, the situation in Western Europe deteriorated in the second quarter.