[eccr] European IT faces gloomy future

European IT faces gloomy future
======================
Analyst organisation Forrester has forecast gloom for the European IT
market, warning that many small software and services firms will
struggle to survive over the next year.

A new study by the analyst predicts that the UK will overtake Germany to
become Europe's largest IT market by 2005, but it also warns that the
technology gap between Europe and the US will grow by ¬63bn this year
alone. By 2004, IT will form only 6.9 per cent of the European economy,
compared with 9.6 per cent in the US, the report said.

The analysis, based on GDP growth projection, historical spending
trends, and research into industry confidence, predicts a likely decline
of 0.3 per cent in Europe's IT spending this year. The analysts says
that companies and governments need to boost IT investments if Europe is
serious about becoming the world's leading knowledge-driven economy.

VNUnet UK - February 19, 2003
http://nl2.vnunet.com/News/1138893

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