Executive Summary (This is a document excerpt)

Third-quarter 2005 data from both the US government and vendor sources on business investment in information technology (IT) goods showed growth of 9% to 10%, depending on the measure. IT buyers appear to have shrugged off the distractions of hurricanes Katrina and Rita and higher energy prices. The observed growth rates for this quarter were two percentage points higher than we expected, but not high enough to alter our overall projection for the year. Investment in communications equipment and software was strong and spending on IT consulting and outsourcing services showed continued revival, but investment in computer equipment slowed. The third-quarter data raises our forecast for the level of 2005 US IT spending by $1 billion, but still keeps our forecast at 7% growth for 2005 as well as for 2006.

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