Britain’s vote to exit the European Union will depress global IT spending this year, as companies cut back spending over uncertainty about what the future holds, Gartner has predicted.

“We’re looking at a 2-5 percent reduction in IT spending in the UK,” compared to Gartner’s previous forecast of a 1.7 percent decline, analyst John-David Lovelock said in an interview.

“That’s going to be enough to tip the worldwide IT spending negative this year,” he said.

The “Brexit” vote has led to massive uncertainty about what the future holds economically for Britain and the entire European Union, which means that companies have scaled back on their strategic plans in the fifth-largest IT market in the world.

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