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Friday, July 23, 2010

Reasons to be Optimistic Heading into a Summer Weekend

Here are a few of the corporate earnings headlines we were treated to over morning coffee, earlier today and yesterday.  

"Microsoft Profit Rebounds by 48%"

"Second Quarter Income Higher at Amazon"

"Optimistic 3M Lifts Guidance For Year"

"Wireless Revenue Drives AT&T Growth"

"Honeywell Outperforms Again"

"AutoNation Profits up 36%"

"CA Exceed Expectation"

"Ford Higher After Strong Q2 Earnings"

"Verizon Posts Wireless Customer Growth"

"UPS Raises Profit Outlook"

"U.S. Manufacturers Continue Streak of Profit Beats"

"Caterpillar Posts Strong Profit and Raises Outlook"
These results are reasons to be optimistic about the recovery.

According to a report this week from Forrester Research, spending on IT goods and services in the U.S., Canada, Latin America, Asia-Pacific, Easter Europe, the Middle East and Africa will increase this year anywhere from 9.9% (in the U.S.) up to 16.2% (Canada). 

It's true that IT spending in the western and central regions of Europe are forecasted by Forrester to drop by a modest 0.7%.  But the increase in spending throughout the rest of the world is significant enough to offset Western and Central Europe.

A reason for the IT growth spurt?  According to the IDG News Service which viewed the report, "the U.S., and to a lesser extent, other nations, are entering an innovation cycle marked by the adoption of new technologies."

News like this makes for a great summer weekend.

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