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European finance firms to decrease IT spending by 2.1% in 2005

Although spending by finance firms outstripped companies in other sectors during 2004 - with up to 8.4% of their revenues dedicated to IT - spending by companies in the sector will drop by 2.

Although spending by finance firms outstripped companies in other sectors during 2004 - with up to 8.4% of their revenues dedicated to IT - spending by companies in the sector will drop by 2.1% in 2005, Forrester Research predicts.