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To: Johnny Canuck who wrote (37587)	7/12/2002 4:23:45 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69211

12:27PM Goldman IT survey reveals cautious spending projections by Julie Rannazzisi The latest information technology spending survey published by Goldman Sachs revealed more caution and uncertainty among corporations. Goldman's bi-monthly survey was conducted at the end of June and found that spending conditions tightened further, with more than half of respondents expecting to "underspend their budgets" through the remainder of the year. Additionally, the outlook for future spending growth continued to show caution and the recovery continued to be pushed out. "Those not expecting to return to normal IT spending growth rates until after 2003 rose again to 34 percent vs. 26 percent and 17 percent in our last two surveys," Goldman told clients. The broker continues to expect some seasonal improvement by the end of the year and feels that company expectations for third-quarter spending are roughly in line with Wall Street estimates. On a more positive note, most respondents indicated that they expected third-quarter sequential spending to be flat or slightly up.