From Austin Business Journal, January 13, 2009...
Global spending on information technology products and services will drop by 3 percent this year, according to a new forecast by Forrester Research.
The technology research firm blamed recessions in the United States and other countries for halting a seven-year streak of revenue growth in the sector. It rose last year by 8 percent.
In U.S. dollars, Forrester projected the decline at $1.66 billion.
The slowdown will not be as severe as when the tech bubble burst in 2001 and 2002, when spending dropped by 6 percent.
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