Business spending on software services is up as companies realize the economy enters a "second phase of recovery". This is according to John Chambers, CEO of Cisco Systems Inc. The Commerce Department claims that the business spending on equipment and software rose at a 13.3% annual rate in the fourth quarter, the fastest growth since early 2006.
Cisco's third quarter earnings represented a return to balance across the board by geography and customer segments. Cisco has a track record of emerging from recessions and continuing to grow. We should all follow suit!