With US spending now expected to grow faster than previously thought, a new report on information technology has provided more evidence that an industry recovery is on its way. Forrester Research expects information-technology spending in the U.S. to grow 8.4% this year, to US$500 billion. That is up from its January forecast of 6.6 %. Higher spending on communications equipment has helped better the outlook, accompanied by ongoing rebound in computer and software purchases.
Meanwhile, the worldwide tech market is expected to grow 7.7% to nearly US$1.6 trillion. This is lower than Forrester's previous estimates of an 8.1% growth. Forrester analyst Andrew Bartels said this is because the Greek financial crisis weakened the euro and strengthened the US dollar.
Source: Red Orbit