Fourth Quarter Tech Surge Not Looking Likely
from the don't-hold-your-breath dept
Hoping that the usual fourth quarter tech surge will help turn around the economy? Don’t hold your breath. A new survey of corporate CIOs shows that most don’t expect to increase spending any time soon. Companies are still looking to spend less and cut budgets. The folks who ran the study said the last time they saw stats like this was during the 1990 – 1991 recession. Of course, I don’t think this is much of a surprise. Many companies won’t say they’ll spend any more until there’s some evidence of a recovery leading to something of a “catch-22”. How can companies spend more until the economy recovers and how will the economy recover if companies don’t spend?