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not a good sign -- IT spending to drop in 2003
From: David Farber <farber () tmail com>
Date: Sat, 04 Jan 2003 08:36:06 -0800
-----Original Message----- From: the terminal of Geoff Goodfellow <geoff () iconia com> To: Dave E-mail Pamphleteer Farber <farber () cis upenn edu> Subject: not a good sign -- IT spending to drop in 2003 Date: Sat, 4 Jan 2003 17:30:04 +0100 Goldman Sachs says IT spending to drop in 2003 By Tom Krazit January 3, 2003 9:56 am PTANALYST FIRMS ARE rarely pessimistic, but The Goldman Sachs Group released a
report Thursday predicting a 1 percent drop in IT spending in 2003,contrasting with other more optimistic predictions from technology analyst
firms. Goldman regularly surveys a panel of 100 IT managers who influencetechnology decisions at top companies worldwide, and the most recent results show a mixed spectrum of expectations for the coming year. The number of managers expecting declines in their IT spending increased to 37 percent in December, as opposed to 23 percent who felt that way in October. A weighted
average of all respondents indicated a 1 percent drop in IT spending,compared to a weighted-average prediction of 2 percent to 3 percent growth
in October, Goldman said.The magnitude of the pessimism surprised the New York firm, which said a 3
percent swing in the outlook from October to December was unusual.And the gloom won't lift for awhile, at least according to Goldman's survey.
It will take at least a year for IT spending increases to accelerate, according to 43 percent of Goldman's panel. Sixty-six percent of therespondents said only as their company's revenue and profitability increases
will they be able to reinvest some of the profits in IT. --snip-- http://www.infoworld.com/articles/hn/xml/03/01/03/030103hnsachs.xml =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- geoff.goodfellow () iconia com * Prague - CZ * telephone +420 603 706 558 "success is getting what you want & happiness is wanting what you get" http://www.nytimes.com/library/tech/99/01/biztech/articles/17drop.html http://www.tapsns.com/members-bio/geoff-goodfellow.shtml -- Dave ------------------------------------- You are subscribed as interesting-people () lists elistx com To unsubscribe or update your address, click http://v2.listbox.com/member/?listname=ip Archives at: http://www.interesting-people.org/archives/interesting-people/
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- not a good sign -- IT spending to drop in 2003 David Farber (Jan 04)