As expected the Israeli economy has a monthly positive rate of change.
STKI expects Q32009 to be not good for IT vendors. Part of it because of summer vacations and Jewish holidays.
We expect projects to start and end of year seasonal buying to help vendors show finally a "better quarter" during Q42009.
The government, telecomm and financial markets will be the first to recover.
IT spending will be -12% for the year but we expect a much better 2010.