Dont Bank on IT

By eweek  |  Posted 2001-06-11

Wishful thinkers have been predicting an upswing in IT spending during the second half of 2001, apparently hoping that saying it will make it happen.

But the 260 CIOs of medium to large enterprises who responded to a June 1 magazine survey contradict the spin doctors: Only 37 percent think the economy will rebound within six months.

Overall, respondents predict IT budget growth during the next 12 months of just 3.8 percent, compared with 18.8 percent forecast last November. Respondents expect to book only 10 percent of revenue via the Internet, down from 25 percent last November. Only 20 percent said high-tech labor was hard to find in May 2001, vs. 76 percent last November. Ouch.

Rocket Fuel