Another Economic Indicator Offers Some Hope - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Another Economic Indicator Offers Some Hope

The federal government reports that spending on IT products is up.

There's more good economic news for IT vendors from the government. The U.S. Commerce Department on Friday reported that business spending on IT increased during the first quarter by 1.1% compared with the previous quarter, to a seasonally adjusted $573.6 billion in constant dollars. Though down 7.6% from a year earlier and $3.5 billion lower than an estimate issued last month, the first-quarter increase marked the first uptick in IT spending in a year.

IT spending represents 6.1% of the gross domestic product, which the government said rose 1.4% during the first quarter to nearly $9.48 trillion. The department last week reported that shipments of computer products rose 2.5% in April, reversing months of decline and suggesting that a tech recovery is under way.

While recent economic indicators are inspiring to those hoping for a turnaround soon, some economists remain guarded. Says William Baumol, an economics professor at New York University, "These are signs of improvement, but, frankly, you need a fortune teller with a crystal ball to see how much comfort you can take from them."

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
Slideshows
10 Trends Accelerating Edge Computing
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/8/2020
Commentary
Is Cloud Migration a Path to Carbon Footprint Reduction?
Joao-Pierre S. Ruth, Senior Writer,  10/5/2020
News
IT Spending, Priorities, Projects: What's Ahead in 2021
Jessica Davis, Senior Editor, Enterprise Apps,  10/2/2020
Register for InformationWeek Newsletters
Video
Current Issue
[Special Report] Edge Computing: An IT Platform for the New Enterprise
Edge computing is poised to make a major splash within the next generation of corporate IT architectures. Here's what you need to know!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll