IT slumps in 2009, but should rebound quickly with recovery

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					IT slumps in 2009, but should rebound quickly with recovery
Anonymous
Mortgage Banking; Apr 2009; 69, 7; Docstoc
pg. 82




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Description: Expect overall declines in technology investment throughout much of the information technology (IT) market during 2009 even as the underlying fundamentals of IT demand remain relatively strong given the current state of the economy, predicted analysts from IDC. IDC's latest forecast calls for worldwide IT spending to grow by just 0.5% year-over-year in 2009 in constant currency, down from IDC's November forecast of 2.6% growth. In the US, IDC forecasts year-over-year growth of 0.1% in overall IT spending. Paralleling the worldwide market, hardware will experience a sharp decline in spending with -16% growth while software and IT services spending will grow by 4% and 3%, respectively.
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