The federal information technology market is on track for record spending in the fourth quarter, according to a new Bloomberg Government analysis. The last burst of spending will cap off a fiscal year marked by modest growth in the IT sector, as agencies have had to adapt to telework in the era of Covid-19.
Still, federal contractors may be cautiously optimistic about the future after months of uncertainty as to how the global pandemic might affect the needs of federal agencies, and by extension the market for IT products and services. IT contracts have been largely insulated from work stoppages, while agencies made investments to facilitate secure telework in the second and third quarters of fiscal 2020, according to Bloomberg data. Read the full article here.
Source: Covid-19 Could Mean Record Q4 Spending: This Is IT – By Chris Cornillie, July 2, 2020. Bloomberg Government.
