For many years CES, and its predecessor COMDEX, has been seen as a weathercock for the health of the electronics industry.

In the 1990s the show was a huge extravaganza, with laser shows and huge areas of floor space devoted to the latest gadgets and gizmos. The sharp declines that followed the dot-com boom were reflected in more subdued events, with less razzmatazz and more stress on economy rather than spectacle.

If this year's show is anything to go by then the industry is not out of the woods yet. Organisers are being cagey on registrations but it looks like attendance rates will just match, or even be below last year's turnout.

Visitors to Las Vegas have traditionally been overwhelmed by advertisements for the show and its participants. Taxis were emblazoned with advertising for the show or from companies like Toshiba or Microsoft. This year there has been nothing like as much on display.

Companies are also being much more cautious. The themes of the show may be built around 3D displays, electronic book readers and tablets and new internet platforms, but everyone is talking about economics.

For example, display manufacturers are stressing the low power output and long life of their systems. There's less talk about being environmentally friendly and more of making products last a long time with little upkeep.

Even the organisers have been scaling back. Facilities like the press room have been slashed to the bone and the halls of the Venetian are crammed with anxious hacks trying to find power and a wireless connection.

The main show opens tomorrow so we'll be able to update you on visitor numbers and stall sizes then. A lot of people will be crossing their fingers for a good turnout; the industry needs it.