In the most recent September ETR spending survey, CIOs expect a slight sequential improvement in Q4 spending relative to Q3– but still down 4% from Q4 2019. So the picture is still not pretty but not bleak either. Firms are adjusting to the “new abnormal” and are taking positive actions that can be described as a slow thawing of the deep freeze.
In this Breaking Analysis we will review fresh survey data from ETR and provide our outlook for both Q4 of 2020 into 2021.
We are still holding at our 4-5 percent decline in tech spending for 2020. But we see light at the end of the tunnel – with cautions.