McKinsey has the results of a comprehensive survey of executives around the world. Especially notworthy are the optimistic projections by IT executives:

"Do CIOs and CTOs know something about their budgets that other top executives don't, or are they just more optimistic? Half of them expect spending on IT to increase over the next six months, while only 39 percent of other senior executives think that might happen. Among all executives who expect their companies to spend more on IT, nearly a third predict an increase of more than 10 percent; hardly any executives expect IT spending to fall.

Tech executives in India and China are more optimistic than those in other parts of the world: 86 percent of the Indian and 75 percent of the chinese CIOs and CTOs say that their companies plan to increase IT spending. A third of the Chinese CIOs and CTOs report that it will rise by 26 percent or more."