Posted by Mark Brousseau
Business outlays for IT equipment and software have slid as a share of the U.S. economy, according to statistics from the Bureau of Economic Analysis. U.S. companies' tech spending as a share of the gross domestic product (GDP) is now below that of the 2001-02 tech bust, the bureau says. The good news: the 75 technology companies in the S&P 500 held $138 billion in cash at the end of 2008, a drop of less than 2 percent from the fourth quarter of 2007, according to Capital IQ, BusinessWeek.
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