Unhappy New Year. That's the upshot of Goldman Sachs & Co.'s most recent survey of IT managers, which shows a further deterioration in corporate America's outlook for technology spending in 2003. However, amid the mostly dreary forecast, storage networking remains one of the bright spots.
Goldman's survey found an average 1 percent decline in overall spending for 2003 among respondents -- compared with 2 to 3 percent growth on its previous surveys. The firm surveyed a panel of 100 IT managers at Fortune 1000 companies from December 9 to 20 (see Survey: IT Spending Still Hideous).
"IT managers came out of budgeting season with a significantly more negative outlook on 2003," write Goldman Sachs analysts Laura Conigliaro and Rick Sherlund, in a report released today. "With faltering end demand, an absence of 'game-changing' technologies, and little pent-up demand, we do not currently see catalysts to propel IT spending in early 2003."
IT managers who anticipate lower spending in 2003 increased to 37 percent on the December survey, compared with 23 percent on Goldman's October survey and 16 percent on its August survey.
Figure 1: How do you expect your overall 2003 IT spending to be relative to 2002?
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