Forrester: Tech Spending Will Fall, But Not Like 2001, 2002

The global market for technology prdocuts and services will see 3% less spending this year — about $1.7 billion, predicts Forrester Research.

That’s bad, but not as bad as in 2001 and 2002, when tech spending sank 6% both years.

Last year, tech spending grew 8%, Forrester says much of that growth came on a weaker US dollar. On the dollar’s new strentgh, some European vendors — such as Alcatel-Lucent (ALUA.PA), SAP (SAPG.DE) and Siemens (SIEGn.DE) — could benefit as buyers look to them for better deals.

Forrester also writes that “Software purchases will do a bit better than other categories, but all vendors will face a tough time until late 2009 or early 2010.”

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