Despite earlier hopes to the contrary tech spend looks like it is heading south

To cap a week of gloomy news I have today seen a Changewave survey which suggests tech spend is about to fall off a cliff.  This comes despite earlier hopes that the tech sector might get off relatively lightly this time round.

There is a bunch of other data in the post where Changewave report these results which is well worth a read.  It all points to the same conclusion though, which is not a pretty one.