CIO Tech Spending Poll: Growth Nothing To Write Home About

Includes: IYW, PTF, SPY
by: William Trent, CFA

The CIO Magazine Tech Spending Poll (pdf file) was released, saying:

In the latest quarterly poll, panelists project IT budgets to grow by 7.2% over the next 12 months, up from 5.1% last quarter. In addition, CIOs report that IT budgets increased by an average of 6.1% over the last 12 months, up from 5.7% last quarter.

Higher is better than lower, but 7.2% growth is nothing to write home about. The key question is whether the upturn in the future growth index will have the legs to continue for several more quarters, or whether it will prove to be a glitch up in a still-declining chart.

CIO poll