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See the best of Reuters photography. See more | Photo caption Dalai Lama in exile A look at the life of Tenzin Gyatso, the 14th Dalai Lama of Tibet. Slideshow Space odysseys From the scientists on the ground to stunning views from space, a look at man's continuing exploration into the final frontier. Slideshow Libya’s Arab Spring Almost a year after ousting Muammar Gaddafi in a NATO-backed rebellion, Libyans head to the polls. Slideshow Global tech market growth stabilizing: Gartner Tweet Share this Email Print Related News Jobs selloff erases Wall Street's gains for week Fri, Jul 6 2012 Microsoft tackles iPad with Surface tablet Tue, Jun 19 2012 Analysis & Opinion Taking the leverage out of economic growth Corporate earnings hopes are still too high Related Topics Tech » By Tarmo Virki Mon Jul 9, 2012 4:40am EDT (Reuters) - Growth in technology spending by companies and the public sector is stabilizing at much lower levels than last year, due to economic worries in many key markets, research firm Gartner said on Monday. "While the challenges facing global economic growth persist ... the outlook has at least stabilized," said Richard Gordon, research vice president at Gartner, noting anxieties linked to the euro zone crisis, weaker U.S. recovery and the slowdown in China. Gartner now expects global IT budgets to rise 3.0 percent this year to $3.6 trillion, instead of a previously forecast 2.5 percent gain, but in constant U.S. dollar terms its forecast is unchanged at 5.2 percent. That compares with a 7.9 percent rise in spending in the sector last year, Gartner said, with growth slowing in all five parts of the sector: computing hardware, enterprise software, IT services, telecom equipment and telecom services. For the $1.7 trillion telecom services market - single largest component of the sector - growth will slow to 1.4 percent this year from 6 percent seen in 2011, Gartner said. Worries over corporate technology spending came to the fore on Friday when software maker Informatica Corp posted results far below expectations, saying business conditions worsened sharply in June. Informatica shares dived 30 percent, dragging down other tech names exposed to corporate tech spending including Citrix Systems Inc, EMC Corp, Red Hat Inc and VMware Inc. Some investors worry that Informatica's results could signal the European crisis is taking a higher toll on tech spending, than they previously thought. (Editing by David Holmes) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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