Last quarter we saw corporate IT spending in the process of rapidly stabilizing. Our latest ChangeWave survey shows the rate of recovery is slower this quarter — but on the positive side things are still continuing to improve and there are signs of a bigger uptick in store for 1st Half 2010.

The ChangeWave survey was conducted August 10–19, and 1,801 respondents involved with IT spending in their organization participated.

Looking ahead, 18% of respondents said their company’s IT spending will increase for the fourth quarter — a three-point improvement since our May survey.

However, one-in-four respondents (25%) said that their company’s IT spending will decrease (or there will be no spending at all) — which is one point worse than previously.

We also asked respondents if their IT spending was on track thus far in the third quarter, and our findings show only a very slight change since the previous survey.

Thirty-two percent said they’ve spent Less than Planned so far in the third quarter, and 11% say they’ve spent More than Planned — altogether a net one point improvement.

1st Half 2010

On a more positive note, when we look ahead to first half 2010, we see more bullish signs. One-in-four (24%) said they think their company’s first half 2010 budget will be greater than second half 2009, a 4-point improvement since the previous survey.

Only 19% said they think their company’s IT budget will be less than second half 2009 — also 4-points improved. We note that this is the most optimistic longer-term outlook we’ve seen in two years.

Individual IT Categories

Out of the 13 IT categories we looked at in this survey, Networking (Change in Net Difference Score = +3) registered the biggest increase since the previous quarter. Application Development Software/Tools (+2) and Storage (+1) are also showing some signs of momentum.

In the same survey we also focused on corporate smart phone buying. Going forward, 35% of respondents report their company plans to buy smart phones next quarter — down 1-point from previously.

In terms of manufacturers, Research in Motion (RIMM; 74%) is set to maintain its dominant share of planned corporate buying.

Apple (AAPL; 27%) remains in second place, up 1-point from previously.

Of course, most of Apple’s corporate share is among small- to medium-sized companies (under 1,000 Employees), while RIM’s corporate share is heavily concentrated among larger companies (over 1,000 Employees).

Palm (PALM; 7%) is also registering a 1-pt uptick in planned purchases — likely attributable to its recent launch of the Palm Pre.

Bottom Line

Nearly all signs point to a slowdown in the rate of recovery for corporate IT spending this quarter. But on the positive side, spending is still continuing to improve and there are signs of a bigger uptick in store for first half 2010.

In terms of specific vendors, Microsoft (MSFT; +2) and Dell (DELL; +2) are showing signs of momentum going forward — possibly related to the impending release of Windows 7.

Jean Crumrine co-wrote this article.