NEW YORK (AP) -- Research firm Gartner Inc. has lowered its global technology spending growth forecast because of the sluggish economy and the euro crisis.
Gartner Inc. said Thursday that the computer hardware sector will be the hardest hit, hurt by supply constraints in the hard disk drive industry. Floods that have left one-third of Thailand under water upended hard-drive production in the country -- a major manufacturing hub for the industry.
Gartner says it now expects worldwide spending on technology to grow by 3.7 percent this year, to $3.8 trillion. That's down from its earlier forecast of 4.6 percent growth.
In 2011, global tech spending grew 6.9 percent from the prior year, to $3.7 trillion.
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