A sign of better times to come?
By Tony Hallett
Published: 31 May 2002 07:20 GMT
CIOs and other IT buyers are remaining cautious, despite some signs that the worst days of the downturn are behind them.
Research by Merrill Lynch, which questioned 75 US and 25 European CIOs, has found IT budgets are flat this year despite figures at the start of the year predicting a small increase.
The investment bank reckons users are extending the PC upgrade cycle up to 40 months from a previous average of about three years, putting off spending.
Meanwhile, data from Gartner Group's Dataquest unit suggests the financial services industry is more bullish. It projects global spending for the sector of $350bn during 2002, up from $326.1bn in 2001. By 2005, it is forecast to reach $474.4bn.
The research company said a slowdown even before 11 September had been due to the broader economic recession, re-evaluation of CRM and concerns about inadequate infrastructure, though now software and IT services are leading the recovery.
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