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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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