Global IT services spending to reach $553 bln in 2004, grow at 6.9% a year

Despite geopolitical unrest, IDC sees no dampening effect on the services industry spending expectations so far in 2004. Companies and governments will spend $553 bln on external services in 2004, and IDC forecasts worldwide services spending to continue at a compound annual growth rate (CAGR) of 6.9% over the next five years.