Australia is today facing economic challenges unseen for more than two decades. Some observers are comparing the current crisis with the Great Depression of the thirties. In this document, IDC Australia brushes a picture of the Australian economy and how it will be impacted by the financial storm raging at the world economy. The impact on ICT spending and various vertical industries will also be discussed.

The purpose of this document is to provide an early assessment of the impact of the financial crisis on the Australian ICT industry. IDC Australia is currently reviewing all market forecasts to factor in these extraordinary developments. This document does not provide updated forecasts. The new forecasts will be provided by the usual way of dissemination to IDC's clients.