Global spending on technology and services may see an over 10% decline in 2020 due to the slowdown caused by COVID-19 pandemic said IT research and advisory firm HfS Research. The firm said that the negative impact on GDP, in Western European and North American markets, from the Q2 of 2020 will be around 10-15%. The situation will lead to a sharp decline in IT services spending. HfS said recovery to pre-COVID-19 levels is likely after the H1 of 2021.

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