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Uh oh: The guys controlling the IT budget aren't happy

Chief financial officers are pessimistic about the U.S.
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Written by Larry Dignan, Contributing Editor on

Chief financial officers are pessimistic about the U.S. economy with three quarters of them predicting a recession in 2008 with no rebound in sight until 2009.

That happy talk comes courtesy of CFO magazine and Duke University survey of CFOs. What does that have to do with our friendly neighborhood geek? CFOs control your IT budget indicating there may be a bit of a disconnect with CIOs.

The survey polled 1,073 CFOs through March 7. Among the key stats:

  • 54 percent say the U.S. is in a recession now;
  • CFO pessimists outnumber optimists 9-to-1;
  • Capital spendng are expected to increase 3.3 percent;
  • 47 percent think a recovery is more than 15 months away.

Bottom line: If you haven't prepared for IT spending cuts you should get rolling.

As for me, I'm off to find a happier topic to talk about.

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