European IT spending to grow 4% in 2005

European IT spending to grow 4% in 2005

Summary: With foreign currency fluctuations, high oil prices, and elevated unemployment continuing to buffet Europe's economy, IT spending growth will remain modest this year. IDC forecasts total IT market growth of 4% in the region for 2005, compared with a previous forecast of 5.

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TOPICS: CXO
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With foreign currency fluctuations, high oil prices, and elevated unemployment continuing to buffet Europe's economy, IT spending growth will remain modest this year. IDC forecasts total IT market growth of 4% in the region for 2005, compared with a previous forecast of 5.6%. In 2004, the Western Europe IT market grew by 12% in US dollar terms due to the strength of the euro against the dollar, but by only 3% in euro terms.

Topic: CXO

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