Overall tech spending intent improves in Q2 2023, likely to remain slightly negative through Q3


Composite signals of spending intent indicate a recovery of US business and consumer attitudes toward technology spending in the second quarter, but spending intent is likely to remain negative overall through the third quarter of this year, according to S&P Global's Technology Spending Intent Indicator, a survey-based measure of intent to spend on technology. The Q2 2023 Tech Spending Intent Indicator was 49.72, representing a slightly negative overall sentiment but a marked improvement over 46.40 in Q1. However, projected Q3 numbers suggest that the Q2 increase — the first positive sequential shift in more than a year — is not the start of a new directional trend, with next quarter's score likely to remain in the negative range (<50). 

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