Worldwide IT spending will grow 2.6% in 2009

Worldwide IT spending will grow 2.6% YTY in 2009, down from IDC’s pre-crisis forecast of 5.9% growth. In the United States, IT spending growth is expected to be 0.9% in 2009, according to IDC. IDC expects IT spending to make a full recovery by the end of the forecast period with growth rates approaching 6.0% in 2012. IDC estimates that more than $300 bln in industry revenues will have been lost due to slower spending over the next four years. IDC lowered the forecast for worldwide GDP growth in 2009 to 0.3%, which is 1.5% lower than the current forecast and worse than any year since World War II. This produced a forecast of 0.1% growth in worldwide IT spending in 2009 with negative growth in the United States, Western Europe, and Japan.