Magazine Ad Revenue Down 21.2 Percent In First Half Of 2009 - mediabistro.com: FishbowlNY: "The Publishers Information Bureau just released its advertising revenue numbers for the first half of 2009, and it's not pretty. Rate-card-reported ad revenue totaled nearly $9.1 billion, down 21.2 percent from the same period last year. Ad pages were also down 27.9 percent, and the impact of the recession was felt across all top 12 ad categories, PIB said."
This is evidence that the people who sell things are "extremely cautious." The greatest sectoral declines in ad revenue are automotive, finance, and retail. That cuts a pretty big swath.