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IT Spending: Strong Dollar Continues to Force Downward Revision
The numbers for 2015 IT spending are crumbling. In June 2014, Gartner saw 2015 as a big year for global IT spending and forecast 2015 growth to be 3.7 percent. By January 2015, Gartner revised their estimate to 2.4 percent. In March the number was significantly again revised downward to -1.3 percent. Now, at the end of June, Gartner is again revising the forecast for 2015 downward, to -5.5 percent.
Analysts say the revision is necessary because of the strong dollar. John-David Lovelock, research vice president at Gartner, said that “we want to stress that this is not a market crash. Such are the illusions that large swings in the value of the US dollar versus other currencies can create. However, there are secondary effects to the rising US dollar. Vendors do have to raise prices to protect costs and margins of their products, and enterprises and consumers will have to make new purchase decisions in light of the new prices… IT activity is stronger than the growth in spending indicates. Price declines in major markets like communications and IT services, and switching to ‘as a service’ delivery, mask the increase in activity.”
