Global IT Spending Set To Grow 3.9%

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July 20, 2010

Global IT Spending Set To Grow 3.9%

By Mike Sachoff

Global IT spending is on track to total $3.350 trillion in 2010, an increase of 3.9 percent from 2009 spending of $3.225 trillion, according to the latest forecast by Gartner.

Gartner has lowered its outlook for the IT industry from the first quarter of this year when it forecast worldwide IT spending to grow 5.3 percent, primarily due to the devaluation of the euro versus the U.S. dollar since the beginning of the year.

"The European sovereign debt crisis is having an impact on the outlook for IT spending," said Richard Gordon, research vice president at Gartner.

"The U.S. dollar has strengthened against the euro during the second quarter of 2010, and this trend will likely continue in the second half of 2010, which will put downward pressure on U.S.-dollar-denominated IT spending growth."

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