Analysts cut 2023 tech spending predictions as consumers hold back

Predicting spending is a tricky business, especially in a period of economic uncertainty. Perhaps that’s why both IDC and Gartner have cut their fall predictions in the new year, with Gartner now predicting modest 2.2% growth for 2023, with IDC a bit more optimistic at 4.4%.
In the fall, Gartner was predicting a far more robust 5.1% and IDC was looking at between 5% and 6%. Both companies look at a combination of business and consumer spending in their numbers.
Gartner says it’s the consumer side of the ledger that’s become a drag on their predictions, while the firm expects enterprise buyers

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