“Of the 600 business-technology leaders surveyed, 39% said that their IT spending would drop compared with 2007 – 19% said that spending would drop by more than 10%. An additional 28% said that spending would stay flat, leaving only 33% who said it would rise.”

http://blogs.wsj.com/biztech/2008/07/29/tech-departments-cut-budgets-stop-hiring/?mod=djemTECH