European IT spend is flatter than a flat pancake
Gartner glooming and dooming
The Gartner survey of over 400 European companies revealed that almost 70% will either lower IT spending this year, or freeze it at 2001 levels. Nearly 75% said they would also either lower or keep flat IT spending next year.
The findings are a blow to Europe's IT sector, which had begun to hope that the post-September 11 spending slowdown in the US might fail to bite in Europe.
Gartner's Dataquest unit had helped fuel this apparently false optimism, having earlier predicted a 7% increase in business technology spending in Europe this year, and an 8.7% increase in 2003.
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