The latest ChangeWave corporate IT spending survey shows--for the first time in years--a weaker IT spending growth rate and poor visibility headed into the first quarter of 2008. About 24 percent of respondents say their company will increase IT spending for the first quarter, a figure unchanged from the previous survey, but far below the average seven-point seasonal increase seen in each of the last four years, Changewave says.
Another 20 percent of those surveyed report IT spending will decrease, or there will be no spending at all in the first quarter, which is three percentage points worse than reported in the last survey.
While just over half (52 percent) say their company is giving a "green light" to IT spending, suggesting spending is normal, this figure is down five percent from previously and is now at its lowest level in more than three years, Changewave says.
Some 42 percent say their company is either reducing spending or putting spending on hold, the worst reading in three years, Changewave notes.
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