Executive Summary (This is a document excerpt)

Final data on 2004 spending on information technology goods, services, and staff by US companies and governments confirmed our forecasts of 5% growth for the year. The slowing of growth rates in new investments and vendor revenues in Q4 to high single-digit growth from the double-digit growth rates of the first half of 2004 sets the stage for 7% growth in 2005. Forrester has made some minor changes to the 2005 forecast, such as increasing the growth in spending and investment on computers and peripherals and lowering the projected growth in spending on communications equipment. Still, with actual 2004 IT spending coming in very close to our forecasts from late 2003 and early 2004, we feel confident that our 2005 forecast will hit the target as well.

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