Tight Budgets Put IT Plans In Slow Mode

February 2008
Bank Technology News;Feb2008, Vol. 21 Issue 2, p1
Trade Publication
The article reports on the survey conducted by Celent regarding information technology (IT) spending in North America. Celent forecasted that IT spending growth will slow down by 14% among North American institutions in 2008. The actual growth rate of spending is projected to be 3.6% in 2008 for U.S. and Canadian firms, a total IT spend of $49.7 billion. Such growth rate was considered as the lowest rate since the severe declines after Y2K investments tailed off and dotcom burst.


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