US IT spending to rise 7% in 2004

U.S. technology spending is projected to rise 7% in 2004 and continue at about the same rate through 2008, according to results of a survey released Monday that also showed improved optimism on outlays in the sector. Over the next four years, Forrester projects spending on computer hardware will post a CAGR (compound annual growth rate) of 9%. Growth in computer hardware will peak at 14% next year and then level off, the researcher predicted.