(AP) -- The research firm Gartner says global spending on technology products and services will likely decline nearly 4 percent this year. The weak economy is to blame.
Gartner said Tuesday it expects a broad-based slowdown, leading to a 3.8 percent decline from 2008, to $3.2 trillion.
Hardware will see the sharpest drop - nearly 15 percent after a 2.8 percent increase last year. Spending on software, which can help companies save money, is expected to stay nearly flat.
Gartner calls its forecast bleak, and says government stimulus packages won't be enough to offset things soon.
The latest forecast would be worse than the 2.1 percent decline in spending that the tech industry saw in 2001, after the dot-com bust.
©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Explore further: 2012 movie massacre hung over 'Interview' decision