European Crisis to Hurt IT Spending: Gartner

By CIOinsight  |  Posted 07-01-2010
Gartner analysts trimmed their worldwide IT spending forecast for 2010, saying they now expect spending increases to reach 3.9 percent, not the 5.3 percent predicted earlier this year. The European debt crisis is the primary culprit.

Gartner analysts in a report July 1 said they expect global IT spending in 2010 to hit $3.35 trillion. That would be an increase of 3.9 percent over the $3.25 trillion that was spent in 2009, but a drop from the 5.3 percent growth Gartner had predicted in the first quarter.

Much of that decline is due to the devaluation of the euro vs. the U.S. dollar, according to Gartner.

To read the original eWeek article, click here: European Crisis to Hurt IT Spending: Gartner