Pandemic’s Economic Toll Forces IDC to Downgrade Its IT Spending Forecast
Global information technology spending is now expected to decline 5.1% this year to $2.25 trillion, “as the economic impact of the COVID-19 pandemic continues to drive down some categories of tech spending and short-term business investments,” said IDC Monday. Its…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
February forecast before the pandemic hit was for IT spending to increase 4.3%. “Inevitably a major economic recession, in Q2 especially, will translate into some big short-term reductions in IT spending by those companies and industries that are directly impacted," said IDC.