| A new Goldman Sachs report that says information technology spending will drop from an expected 7% growth rate to a 5% growth rate this year was met with much gloom. After all, Goldman, which regularly surveys corporate CIOs about their IT spending plans, has a reputation for closely reflecting what’s actually happening with corporate technology budgets.
But there are some bright spots in the survey, which was reported on by CNET and others.
Goldman says CIOs are spending on technology initiatives that promise to lower costs, such as consolidation and virtualization.
And, as we reported in a previous blog, financial firms are expected to jack up their spending on computers, software and services.
Another thing to keep in mind:
While few would view any kind of a decrease as a positive note on the state of IT, information technology spending is still expected to grow 5%.
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