Now let's take a closer look at that same chart — this time showing it from the first time we ever asked this survey question back in August 2004 right up to our most recent results in December 2008.

A quick glance shows you why we continue to remain so bearish today. The consumer pullback is as pronounced today as at any previous point of the recession — with three-in-five (60%) U.S. respondents currently saying they'll spend less money over the next 90 days, and only 11% saying they'll spend more.

Of course, our ChangeWave Research Network focuses on far more than just consumer spending. And it's worth pointing out that when we released our second report last January it was entitled Corporate Software Spending Goes Negative.

We've been tracking a horrific decline in our business spending surveys ever since.

In retrospect, it's astonishing that it took the government eleven more months before it recognized the U.S. economy had been in a recession for almost a year.

Equally astonishing was the surprise on Wall Street — the Dow closed 678 points lower the day of the NBER announcement, its fourth biggest decline ever.

What's Next?

Being among the first to detect a recession isn't the only thing our ChangeWave Research Network does. We also plan to be among the very first to detect the end of the recession.

Our members know that ChangeWave's weekly surveys are an accurate warning system that enables us to spot shifts in economic trends — both up and down — in advance of other sources.

Based on our track record, our Network Members won't be waiting for the government to tell us — eleven months too late — that the recession is over. The moment there's an uptick in the economy, we'll know about it.

If you're interested in joining our 20,000 member research network and gaining early access to our research results, click here now.