Spending Growth on Tech Expected to Slow Next Year
While spending on technology, worldwide, is expected to grow in 2008, the growth will be slower than it was this year, the Associated Press reported last week, citing statistics from the International Data Corp.
According to the report, the worldwide market for technology will grow 5.5 to 6 percent, with the U.S. market rising 3 to 4 percent. this is compared to 6.9 percent growth recorded for 2007, of which 6.6 percent came from the United States.
Earlier estimates had placed next year’s growth in the U.S. at 5.5 percent, but it was revised downward, due to the continuing mortgage crisis and rising gas prices. These economic factors may hurt spending on computers and other tech products.