Worldwide IT spending reached $965 billion in 2004 and will increase at a compound annual growth rate (CAGR) of 6 percent from 2004 to 2008 to reach $1.2 trillion, new research published by IDC reveals. From a U.S. perspective, IDC's third quarter 2004 forecast shows U.S. IT spending will reach $416 billion in 2005, an increase of 5.8 percent from 2004. IDC anticipates that IT spending in the U.S. will continue to increase and reach $501 billion by 2008, a CAGR of 5.9 percent.

These results indicate a positive outlook for the U.S. and worldwide IT market, particularly after 2005. With an improving business environment and recent GDP gains, companies are loosening their restraints for information technology investments.

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