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Gartner Survey: Financial Services IT Spending Up 5%

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NU Online News Service, Jan. 15, 11:55 a.m. – Executives at financial services companies say technology spending at their companies is increasing 5% this year, according to the Gartner Group Inc., Stamford, Conn., a consulting firm.

Gartner based its figures on results of an informal survey of 1,048 participants at a technology conference held in November 2001

Executives in most industries were more pessimistic than the financial services executives. The gloomiest executives, those at non-durable manufacturers, told Gartner they fear technology spending at their companies will drop 15.1%.

But executives at distribution, media, business services, agribusiness and petroleum, mining and energy companies told Gartner they are expecting technology spending growth rates over 5%.

The petroleum, mining and energy executives said they think expenditures at their companies will increase 15.9%.

The survey participants are interested in security, storage, Web-based applications, and wireless data communications this year, but not very interested in mainframe computers, contract labor services or desktop products and services.


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