Forrester: Recession not 'canceled,' will hit tech industry in late 2008

Yesterday influential industry analyst firm Forrester released their US IT Market Outlook: Q3 2008. Their decree in the report authored chiefly by Andrew Bartels is that the recession will hit the tech world in late 2008.

Forrester reporters that the slowdown has been delayed, but not canceled for the tech industry. Q2 2008 data indicates that the US economy and tech market growth has been “surprisingly strong.” The US economy climbed 3.3%, as business investment in IT equipment and software rose 11%.

But (there has to be a but), the US real domestic purchases remained fairly flat and revenues of large vendors were up by just 4%. Forrester predicts the recession will slow growth for US technology goods and services in the fourth quarter, continuing into Q1 2009.

A major impact will be felt by computer equipment vendors, with network equipment and software purchases to realize slower growth in 2009. IT services vendors, which have not yet been significantly impacted, will start to see little or no growth.

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Find more tech industry trends for marketers at q2marketing.com.