IT spending to increase 7% in the next 12 months

IT spending is expected to increase over the next 12 months at a moderate pace of nearly 7%, according to IDC. Buyer intent, a reflection of IT demand, fell to 1041 for October from 1085 in September, IDC says. The FutureScan market indicator for the tech sector, however, rose to 1073 for October from 1032 in September. The reason is revenue forecasts for IT vendors have stopped plummeting and are beginning to climb back up, IDC said.