The CEO of

IBM

(IBM) - Get Report

on Wednesday joined the growing chorus of executives talking up an improving information technology market.

Speaking at Big Blue's spring analyst meeting, IBM CEO Sam Palmisano said the economy is improving, wire services reported. He projected the IT market will return to historical growth levels of twice the rate of gross domestic product, or mid-single-digit percentages,

Palmisano said IBM should grow more quickly than the broader market as it moves into new markets, including managed services.

Shares of IBM recently climbed $2.57, or 3%, to $88.63.