Pink Elephant Blog
Remember The Last Recession - And The One Before That?
Interesting report from Computer Economics. Seems like the recession in the early 90s didn't result in a reduction in IT spending, but the 2001 recession did; but, this was mainly because we were still "burning out" the excesses of the Y2K splurge a year or two earlier. (My buddy, George, likes to talk about how - in the lead-up to Y2K - many people went out and bought new routers and used December 31, 1999 as the justification, despite the fact that routers don't contain a clock or dates!) So, the slowdown in IT spending in 2001 and early 2002 was more to do with the fact we'd just come through the "Spend! Spend! Spend!" years of Y2K than because of the 2001 recession. So what about the 2008/2009 recession? Computer Economics are estimating that IT spending in 2008 will have dropped by 4% and we'll see a continuation of that trend in 2009; but, things will pick up again next year.
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