Perhaps the most important economic news of 2003 was the announcement on Oct. 30 that the U.S. gross domestic product grew at a 7.2 percent annual rate in the third quarter, the highest in nearly 20 years. (The number has since been revised to 8.2 percent.)

It's no surprise, then, that IT executives are more optimistic about the economy than at any time since the Confidence Meter poll was begun. The C-Meter jumped from 6.3 in November to 6.7 this month—more than two points higher than the 4.5 registered in May 2001. However, our respondents' level of optimism for their industry's outlook remained the same, while the numbers for their own companies went down from 6.9 to 6.7.

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