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Technology: Global IT Hitting Bottom?
Business executives are predicting a bottoming out of the economy in the US before the end of 2009. That’s better than the original 18-month out prediction most executives were talking about in December 2008. But as unemployment continues to rise, it does look like we are not there yet.
Forrester Research is also recalculating the numbers and has revised midway their 2009 economic forecast for Global IT upwards. Forrester is also predicting that by years end things will be better. The executive summary for the report says:
“While the Q1 2009 tech market indicator data ranged from bad to ghastly, we think that the US tech market is more than halfway through the downturn, and the global IT market is not far behind. …the US IT market now [is] expected to shrink by 5% in 2009 and the global IT market to drop by 11% in US dollars… the weak results in the first half of 2009 also mean that the market will hit bottom sooner, setting a low base from which positive year-over-year growth will start to occur in Q4 2009 and into 2010.”
Computer and network equipment vendors have been hit especially hard in this downturn. While a forecast is nothing better than an educated guess, let’s hope that this one is close to reality.
