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Information Technology News IT spending and hiring down but may soon bounce back
Information Technology News IT spending and hiring down but may soon bounce back | IT spending and hiring down but may soon bounce back |
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| by Jake Widman | |
| Thursday, 02 July 2009 | |
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Today comes Forrester's "US And Global IT Market Outlook: Q2 2009 ," in which the research company downgrades its projections for IT spending both in the U.S. and globally. At the beginning of the year, Forrester projected a 3 percent decline in "global purchases of IT goods and services by businesses and governments" in 2009, as measured in U.S. dollars. The company also predicted a 3.1 percent decline in the U.S. market. Those numbers have been revised upwards, to a 10.6 percent decline globally and a 5.1 percent decline in the U.S. Some of the difference globally is due to the fact that the projections are in the dollars, a currency which has been growing stronger recently. Nevertheless, the researchers still expect U.S. IT investment to start to pick up this year, and that the strong dip may be a sign of long-term health. "While Q1 2009 saw a scary drop in purchases in the US tech market," said Andrew Bartels, Forrester Research vice president and principal analyst, "ironically that is good news for the long run and we expect to see a stronger rebound sooner. The big drops are not precursors to further declines; rather, we think they are evidence of a temporary pause in US tech purchases, which we expect to start recovering in Q4 as businesses realize that they overreacted in the first quarter." Bartels also said, "We also expect that tech markets in Europe and Asia will start to recover in the first half of 2010." For more signs of European recovery, see Page 2. |
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