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Wednesday, 23 September 2009 05:51

Goldman Sachs (a little more) bullish on IT

Investment bankers Goldman Sachs has told its clients that it expects worldwide IT spending to grow faster in 2010 than it had previously predicted. It also predicted a growth in online advertising.   

The bank had previously predicted that global IT spending would grow 2% in 2010.

Its note to clients raised that forecast to 4% growth, based on improving indicators in gross domestic products and corporate profits.

It also painted a relatively rosy picture for online advertising, which it expects to grow 15% in 2010.

That rate reflects an anticipated 10% growth in the U.S. but a 20% growth elsewhere. Factors in the growth include a general increase in ad spending plus the continued shift of that spending to the Internet.

The bank did not raise its forecasts for 2009, however, which were for an 8% drop in IT spending and a 4% drop in online advertising.


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