IDC: IT spending down in 2008

Framingham, Mass.-based IDC announced Monday it has lowered its IT spending forecast for this year due to the recent downturn of the U.S. economy.

In the IDC Worldwide Black Book, the research firm predicted that worldwide IT market growth would drop to five per cent this year, down from last year’s six per cent pace. In the U.S., growth is expected to weaken to 4 per cent for 2008.

IDC said that historical correlations and recent IT buyer surveys confirm the view that market conditions are likely to continue weakening in the coming months. Any further weakening of the U.S. economy in the coming weeks, IDC said, could force IT market growth even lower.

On the other hand, a quick recovery for U.S. and global economy might lead to positive expectations for the second half of the year.

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