By the Numbers
- Topics:
- Financial Research
- Tags:
- Bank,
- Bank Technology News,
- Celent,
- Financial Services,
- Industry,
- IT-spending,
- Management,
- Strategy
- Source:
- Bank Technology News
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Overview: Total IT spending in the American securities industry is set to decline for the second year in a row. That’s not just a big story, it’s a huge one. At an industry level, IT spending had always increased year-over-year since the 1970s, according to Celent Communications. Even in previous economic downturns, such as the market crash of 1987 or the recession of the early 1990s, there was still ample reason for the industry as a whole to increase tech spending. Celent says spending in 2002 was down for the first time, and while declines for 2003 are modest, the continued trimming is causing significant strain for securities firms. Continue to read article for details.
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Format: HTML | Date: Jun 2003 | Pages: 1
