The figures stem from Fespa's first stakeholder economy survey, which surveyed 400 members across Europe and the rest of the world during July of this year.

While 23% are pinning hopes on an upturn in the latter part of this year, 25.6% expect a change of fortunes to emerge in early 2010. A similar figure anticipates an upturn later, in the second half of the year and less than 12% expect conditions to last into 2011.

Regarding current business conditions, 27% of respondents have experienced a negative effect on turnover by 25% or more.

This aside, 83% of the survey's respondents that featured printers, manufacturers and resellers believe that their companies are well-positioned to "take advantage" of market conditions if it rebounds.

Nearly half (41.3%) have run price promotions, "aggressive" pricing strategies and other initiatives in order to gain business, although 12.2% have boosted sales resources to cope with the recession.

Marcus Timson, marketing director at Fespa, said: "With the Economy Survey, we’re questioning a meaningful sample of printers worldwide to assess how they’re managing the impact of the global economic downturn, and to understand the measures they’re putting in place to get through the difficult times and equip themselves for a positive future."