GLOBAL IT SPEND ‘TO GROW BY 3-4% IN 2009’

Bangalore
Mint

Technology researcher Forrester Inc. has predicted that global IT spend in 2009 would grow by 3-4% and 2-3% in the US, the world’s largest market for technology.

“This is just a scenario as an acute financial crisis has hit not only the US but also countries in Europe and Asia,” said Andrew Bartels, principal analyst of Forrester in a report on what the financial crisis means to the tech market. “A prolonged recession would mean several quarters of declines in IT purchases, not just two or three quarters with little or no growth in late 2008 and first half 2009,” said the report, released on Thursday.