For the first time ever, worldwide spending on information technology (IT) has decreased sharply, according to META Group.

"IT organizations are rebalancing their budgets by cutting into their discretionary spending, while keeping the `run the business' portion of budgets intact," says Dr. Howard Rubin, META Group executive vice president and research fellow. "We're seeing a majority of IT budgets going toward core spending such as infrastructure development, data centers, and operations, with a continual focus on cost reduction.

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