Global IT spending growth to slump by half in 2008


Global IT spending growth to slump by half in 2008

Antony Savvas

Global IT spending growth during 2008 will slip to 6%, compared to the 12% growth seen last year, said analyst Forrester.

The analyst said global IT spending will reach £847bn this year, with the forecasted spending growth slip affected by fears of a US recession.

Forrester previously forecast a 9% jump in global spending, but it has cut this estimate following a series of relatively poor financial results among US IT firms.

US IT expenditure accounts for about a third of global IT spending. Whilst the overall fall will be US-led, Forrester said European IT spending growth will actually slump from 15% last year to just 5%.

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