Gartner Survey Sees Rising IT Spending

By CIO Update Staff

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Chief Information Officers assessing IT spending in 2004 foresee both good news and bad, according to a just-released survey of leading CIOs conducted by market researchers Gartner.

The good news is that CIOs are confident that the overall marketplace will be boosted by a 1.4% increase in IT spending this year. However, on an individual basis, these same CIOs said they don't intend to open their wallets until they see a business recovery.

Many of the 956 CIOs surveyed by Gartner said signs of a business recovery are now forming. As a result, 40% of them believe the projected 1.4 percent spending increase will kick in during the second half of the year.

"CIOs are being very conservative, laying down the foundations for growth, but not aggressively pushing for it," said Marcus Blosch, vice president and research director for Gartner's Executive Programs (EXP) business unit, which conducted the survey.

See the complete story by Alexander Wolfe on Internetnews here.

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