Sometimes good news needs to be taken with a grain of salt. That's the general message from independent research firm Ovum, part of the Datamonitor group, which today released its report, "IT Spending will Rise, yet 2010 will be a Year of Reckoning for CIOs."

Based on responses from CIOs spanning a number of industries—including insurers, which comprised 7% of the respondents—Ovum found that global IT expenditure is expected to rise slightly this year for the first time since the onset of the global financial crisis. However, respondents felt that despite the positive trend in spending, any increases—as well as decreases—will be slight, likely between 1% and 5%. IT decision-makers also revealed that 33% expect their budgets will increase in 2010. Their optimism, however, is tempered, since signs indicate that CIOs still don't see IT as an engine for growth, and that 2010 will mostly be a year of reckoning.

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