17 Gifts at All-Time Lows Gifts Under $30 ChatGPT, a Mindblowing AI Chatbot Neuralink Investigation Kirstie Alley Dies New Deadline for Real ID RSV Facts Space Tomatoes
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

Recession slows IT services growth

The current recession will slow the growth of information technology services to the single digits this year, market researcher Dataquest said Monday. IT services are now expected to grow 7.1 percent worldwide in 2001 to $554 billion, eventually hitting $865 billion in 2005. Dataquest added that the poor economic conditions and the heightened threat of terrorism are expected to dampen growth, especially in the consulting arena, which will lag the general recovery by three quarters.

The current recession will slow the growth of information technology services to the single digits this year, market researcher Dataquest said Monday. IT services are now expected to grow 7.1 percent worldwide in 2001 to $554 billion, eventually hitting $865 billion in 2005. Dataquest added that the poor economic conditions and the heightened threat of terrorism are expected to dampen growth, especially in the consulting arena, which will lag the general recovery by three quarters.