Your IT spending belt has probably been so tight that you have been gasping for breath for the last year. But there's some good news coming your way. A new CIO.com survey finds that things are loosening up. That's good news for every IT executive in the private sector, as the economic recovery seems to be on its way.

Yes, there are still many pockets of problems, but as we have reported in the last few months, IT is an industry that is a necessity. Although most IT execs were facing austere times, like the rest of the country, their comeback is assured.

The survey of 257 IT executives in August and September found that nearly four out of 10 CIOs--that's 37 percent--plan IT spending increases in the coming year. That's the most since July 2008 when 49 percent saw their IT budgets rising. We'd just like to point out that this metric is from shortly before the economic meltdown swept across the country. By May 2009, only 14 percent said they were anticipating higher spending.

The IT execs at smaller companies are planning to increase IT spending in the coming year somewhat sharply: 43 percent versus 14 percent four months ago. More than one-third of midsize respondents--35 percent and 29 percent of large company respondents--plan to increase spending in the coming year, up from 16 and 14 percent, according to the survey.

This turnaround is going to be big. While there are still plenty of problems here and there, it's time for every IT exec to have a strategy. It may be time to renew old contracts or to buy new products to fill in the gaps.

For more on IT spending:
- check out this CIO.com article

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