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InternetNews.com: CyberAtlas Report: IT Spending Hits Bottom?

Dec 19, 2001, 15:50 (0 Talkback[s])
(Other stories by Thor Olavsrud)

[ Thanks to Gus for this link. ]

"IT/IS spending in the U.S. and Europe hit rock bottom in 2001 and is expected to rebound in 2002, according to the results of a new survey released by CyberAtlas Research.

The report, "IT/IS Industry Forecast 2002: U.S. and Europe," Group analyzes responses from identical surveys presented to two different panels of high-tech experts to determine what near-term priorities remain for U.S. and European CIOs in light of diminishing sales and constricting IT/IS budgets in 2001.

'Given current economic conditions, we anticipate that IT/IS capital spending in the U.S. and Europe will increase by about 2.4 percent next year,' said Patricia Fusco, managing editor of CyberAtlas Research and author of the report. 'European IT/IS budgets will be ratcheted up 1.5 percent during the first six months of 2002, but the U.S. market will remain soft, increasing less than one percent through the second quarter of 2002.'"

Complete Story [ INT Media Group is the parent of CyberAtlas Reasearch and LinuxToday -ed. ]