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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Sully- who wrote (43988)	11/6/2001 2:46:29 PM
From: stockman_scott	Read Replies (1) of 65232

Tech spending seen flat-down in 02 cbs.marketwatch.com Here are some of the highlights... <<Goldman queried 100 IT managers after the Sept. 11 terror attacks, and found the tech budget planners more pessimistic about spending prospects for 2002 than they were for 2001. "Most IT managers attribute the cutbacks to the slowing economy, although a surprising 12 percent believe overspending on technology equipment over the past few years plays some part as well," Goldman's technology stocks analysts said in the report released on Tuesday. ...The survey shows expectations for normal IT spending patterns returning to the industry in late 2002 with 44 percent not expecting a full return to normal until 2003. As such, the survey largely fits in line with widely-held expectations on Wall Street for a return to growth in the US economy starting in the second half of next year. More worryingly however, Goldman says that once the turn does occur "spending is expected to be more conservative than historical IT spending patterns."...>>

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