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Forecasts for Corporate IT Spending Improve

Forecasts for Corporate IT Spending Improve

The outlook for IT spending in 2012 appears to be brightening after Maven Wave Partners measured an increase of 2 percent in such expenditures from the second quarter to the third quarter.

According to CFO World,

The outlook for IT spending in 2012 appears to be brightening after Maven Wave Partners measured an increase of 2 percent in such expenditures from the second quarter to the third quarter.

According to CFO World, the consulting firm had reportedly predicted a decline of 5 percent in IT spending, a sign that the segment is doing better than anticipated and could continue its momentum in 2012.

In the Maven Wave Partners’ IT Spending & Investment Study, the consulting firm predicted spending on IT hardware, software and workforces are expected to endure sustained periods of growth moving forward, a positive sign for professionals in the IT sector.

"For two quarters in a row, our model has suggested a pause in the growth of IT spending, and twice the market has surprised us with sequential increases," Brian Farrar, partner at Maven Wave Partners, said in a release. "[W]ith the continued overhang in the European sovereign debt market, a gridlocked U.S. Congress, and a potentially vigorous 2012 election cycle in the U.S., we remain vigilant for a break in the action, but the numbers to date bode well for 2012."

In the survey, the company noted it will extend its forecast for the period through 2015 based on the latest results.

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