If things weren't bad enough with the government swinging the axe on projects and expenditure left, right and centre one of the largest analyst houses has warned CIOs to prepare for a double dip recession.
Gartner has warned that although a lot of senior managers were forgiven for not being prepared as the recession hit last year if things worsen again there will be little sympathy for those that have not got a plan in place to deal with another downturn.
The trigger for the warning is the ongoing uncertainty in the global economy with the age of austerity emerging and the amount of cuts being implemented across Europe that any recovery remains incredibly fragile.
"Just the potential for a second business downturn should be sufficient to compel CIOs to plan for another business downturn," said Ken McGee, vice president and Gartner fellow. "However, most CIOs will not have a response strategy prepared if a second business downturn occurs."
Gartner believes that the experiences that have been picked up in the last 18 months will be useful going forward and that boards should already have contingency plans now.
The fears of a double-dip have been growing as a result of the drastic cuts implemented by the government in a bid to draw back on the public deficit.