Worldwide IT spending is projected to total $3.8 trillion in 2013, a 4.1% increase from 2012 spending of $3.6 trillion, according to the latest forecast by Gartner, a research and consultancy firm. Currency effects are less pronounced this quarter with growth in constant dollars forecast at 4% for 2013.
"Although the US did avoid the fiscal cliff, the subsequent sequestration, compounded by the rise of Cyprus' debt burden, seems to have netted out any benefit, and the fragile business and consumer sentiment throughout much of the world continues," said Richard Gordon, managing vice president at Gartner. "However, the new shocks are expected to be short-lived, and while they may cause some pauses in discretionary spending along the way, strategic IT initiatives will continue," he said in a release.