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Gartner: IT Spending Forecasts Not Too Bad

Posted Oct 13, 2008 03:39pm EDT by Sarah Lacy in Investing, Software and Services, Recession, Banking
Related: ^ixic, bac, orcl, hpq, csco, sap

Last week, the sweeping realization of just how bad this downturn could get swept through Silicon Valley like a bad flu, leaving everyone just about as weak-kneed. But apparently, Gartner had some sort of vaccine. The research house released its new IT spending forecast today, and the news wasn't too bad.

Spending on technology won't increase the previous forecast 5.8%, but it won't decline either, the report said. Gartner is looking for a modest increase of 2.3%, mostly pushed up by emerging markets. The firm expects the U.S. to be flat, and Europe to be slightly negative.

I asked my guest blogger and entrepreneur Om Malik if the projections were too rosy. His take? We don't even know enough to project yet.

Plus: What Malik is watching as a harbinger of a steep tech downturn.

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