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BGOV: Federal Civilian IT Contract Spending Up 15% in Q2 2020

BGOV: Federal Civilian IT Contract Spending Up 15% in Q2 2020 - top government contractors - best government contracting event
BGOV: Federal Civilian IT Contract Spending Up 15% in Q2 2020 - top government contractors - best government contracting event

Federal civilian agencies increased the amount of money spent on information technology products and services from $6.7B in the second quarter of the government's 2019 fiscal year to $7.7B during the same period in its current fiscal year, Bloomberg Government reported Monday.

A BGOV analyst said the civilian IT market recorded a double-digit Q2 growth for the second year, with total contract obligations in that quarter up 17 percent for FY 2019 and 15 percent for FY 2020.

According to the analysis, the non-defense segment's Q2 spending on contract and task order awards related to the coronavirus pandemic hit $98M.

The report forecasts that COVID-19 response efforts will help drive IT spending at civilian agencies for the next quarter and the CARES Act federal stimulus package will support IT investments throughout FY 2020.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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