After two consecutive years of eight percent growth, global purchases of IT goods and services will slow to five percent growth in 2007, reaching $1.55 trillion in sales, according to a new report by Forrester Research, an independent technology and market-research company.

U.S. purchases of IT goods and services will also grow five percent in 2007, the slowest rate of growth since 2003.

The Forrester’s forecast breaks down as: Global IT purchases — up five percent to $1.55 trillion, compared with eight percent growth in 2006; global IT spending — up six percent to $2.02 trillion, compared with eight-percent growth in 2006; U.S. IT purchases — up five percent to $527 billion, compared with six-percent growth in 2006; U.S. IT spending — up five percent to $761 billion, compared with six-percent growth in 2006.

Software purchases will do better than average, growing seven percent down from 10% growth in 2006. Computer equipment will continue to face slowing demand, up only four percent from six percent in 2006. Communications equipment will slow down significantly, growing three percent from nine percent in 2006. IT services and outsourcing will increase four percent, down from eight percent in 2006.