The latest poll is in line with ad-revenue projections from a number of independent sources, such as ZenithOptimedia and GroupM. Both forecast a dismal year for the U.S. industry, though several markets in other parts of the world offer more promise.

Ad executives' forecasts have been on the downward trend since summer 2004. Only the summer 2007 survey showed a brief spike of optimism.

Though the Industry Measure's newly released Creative Forecast 2008 says that 37% of ad agencies expect this year to be excellent, the company says that a "wall of worry" is being constructed. In the Web design and development arena, less than one-quarter of survey respondents expect a profitable year. The researchers caution that industry-wide pessimism and the general public's concern of a possible recession may bring it about, "especially if companies reign in spending and investment out of fear."

Despite dire forecasts, at least two forthcoming events are certain to attract marketing, advertising and design dollars. Both the U.S. elections and the Beijing Olympics will generate multiple commercial projects and editorial coverage on a global scale.

In addition, creative researchers at Corbis suggest that rising levels of financial concerns may have a silver lining. The latest edition of Story Packs, which promises to "beat the news to the newsstands" by previewing topics that will be popular within the next three months, says personal finances will get much editorial coverage. Subjects to watch will span from investing and savings to budgeting, credit cards, home ownership, expenses and debt elimination.