Any further weakening in the European economy could have a major impact on the demand for IT products and services over the next three years, according to IDC. With new economic data pointing to the possibility of a more severe downturn in Western Europe, the likelihood of the US technology slowdown spreading to Europe is rising. Globally this could reduce worldwide IT spending between 2001 and 2003 by as much as $150bn, based on a "worst-case scenario" projection, with $50bn less demand from Europe.
Marc Brenner, 11 Aug 2001
