A recent survey by WhatTheyThink, a leading news and information source for the graphic communications industry, found that 70% of the owners of printing businesses in the U.S. expect 2009 revenues to decline compared to 2008. This is up from 59% just three months earlier. If less is being spent to create printed products, less is being spent on the photographs that are used in them.
Of all June 2009 respondents, 48% said business decreased more than 10% for the year. This was up from 41% in the previous quarter. Only 17% said that business had increased compared to 2008.
In March, only 26% of respondents expected 2009 revenues to exceed 2008. Now only 17% still have this expectation.
The 96-page report, Quarterly Business Conditions Report—July 2009: The WhatTheyThink Economic and Research Center’s Overview of the Current Economic State of the Industry, is available at the WhatTheyThink eStore for $250.