Credit crunch effects to hit IT sector in 2009
Technology companies face being hit by the "credit crunch" and a downturn in business in 2009, according to a prediction by leading analyst Richard Holway.
The technology industry analyst, a former director of Ovum, the IT research analysis and consulting company, forecast that the sector's resilience so far to the effects of the global squeeze on finance will not last.
In an interview with Computer Weekly, he predicted that revenue across the IT sector will decline in 2009, a recession for the industry of up to 2%.
Technology companies dependent on discretionary spending, especially on consumers buying new products, will be "badly hit", he said. "Their outlook is looking much less healthy than they were a year ago, even six months ago."
Read the whole story here from ComputerWeekly
But to be honest, how is this different from any other sector? Plus remember this is only a prediction from leading analyst Richard Holway.