not a good sign -- IT spending to drop in 2003

[David Farber <farber () tmail com>]

-----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 PT

ANALYST 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 influence
technology 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 the
respondents 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

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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

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