Tech Will See Surge in Spending, Report Says

From Associated Press

The high-tech industry’s extended slump finally could be over, according to a report that predicts next year will see the first significant increase in technology and telecom spending since 2000.

Worldwide spending on information technology should grow 5% to $916 billion next year, and purchases of telecom services are expected to rise 4% to $1 trillion, according to International Data Corp.

After rising 12% in 2000, the last year of the dot-com boom, technology spending fell 1% in 2001 and 4% in 2002. IDC predicts spending will end up relatively flat this year, with growth in the United States and emerging markets but declines in Europe, Japan and Canada.