IT Spending May Pick Up Toward End of 2002
SPECIAL REPORT
LONDON--Industry observers are cautiously optimistic that banks will increase IT spending as soon as the markets turn around, possibly as early as the third quarter.
"Revenues and profitability will have to pick up first," says Damon Kovelsky, analyst at Meridien Research in Boston. "IT will be quick to pick up after that--banks have a lot of projects on hold, and lots of deadlines to meet." If current conditions prevail, he expects to see things change for the better around late third quarter or
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