Bangalore: Technology and market research company Forrester Research Inc has revised downward its outlook for US and global IT purchases in 2008.

Based on current available data, Forrester now projects that US purchases of IT goods and services will grow 2.8%, down from its previous forecast of 4.6%.

Global purchases of IT goods and services will grow at 6%, down from the previous preliminary forecast of 9%, according to a new report released by the company today.

"Our forecast is based on mild recession in the US economy in the first two to three quarters of 2008," said Andrew Bartels, vice president, Forrester Research.

"While it is by no means certain that the US economy will in fact experience a recession, the risks of one are high enough to justify a more conservative outlook for the IT market. The US remains the largest single market for IT goods and services, so it is no surprise that the global market is heavily affected by what happens to the US market".

The global market for IT purchases is estimated to be $1.7 trillion in 2008, Forrester said.

Source : PTI