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Global IT spending will decrease in the next 12 months as companies begin to feel the pinch of a slowing U.S. economy, according to new research from IDC.

In a Feb. 11 report, the research firm found global IT spending will increase about 5 percent in 2008 and total about $1.38 trillion for the year. Last year, worldwide IT spending increased about 6 percent and totaled about $1.3 trillion.

Within the U.S. market, spending for IT is expected to grow only 4 percent in 2008 after increasing 6 percent in 2007. IDC analysts found that a downward turn in the U.S. market, especially if the economy falls into a recession, will have a wide-reaching impact worldwide.

Read the full story at eWEEK.