January 17, 2010 by James Oliver
Good news everybody, the tech recession is over. That’s according to industry analysts, Forrester who predict that technology spending in the US will grow by 6.6% this year taking it up to $568 billion. If this proves to be the case the upturn is predicted to have a knock-on effect across the world, particularly in the UK, the country whose economy matches the US system most closely.
Forrester are predicting 11.2% growth in Western and Central Europe whilst Pacific Asia and Latin America are also expected to do nicely with 7.8 and 7.8% growth respectively expected.
The industry plummeted 8.2% in terms of spending last year, a drop which had analysts predicting a long and drawn out period of recession within the industry. However, if Forrester’s optimism is to be believed, that would appear to have been an overly conservative estimate.
When asked to comment on his findings, principal analyst, Andrew Bartels was in no mood to mince his words, stating that “All the pieces are in place for a 2010 tech spending rebound. In the U.S., the tech recovery will be much stronger than the overall economic recovery, with technology spending growing at more than twice the rate of gross domestic product this year.”
Well, there you have it, all that’s left for us to do is hope that he’s right. Fingers crossed everyone.
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