'Europe ahead of US in IT spending' – Intel
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European businesses are ahead of their US counterparts in showing signs of stronger IT spending, according to Intel CEO Craig Barrett.
21 November 2003 European businesses are ahead of their US counterparts in showing signs of stronger IT spending, Intel CEO Craig Barrett told analysts yesterday.
The statement marks the first time that the microprocessor giant has indicated that growth in the IT industry is finally getting stronger after three years of painful decline.
Barrett said many countries had aggressive IT investment plans, including areas of Europe and Asia, and demand for IT systems appeared to be rebounding.
Growth in IT spending in Europe does not yet appear to be benefiting the local technology industry, however. Infoconomy research points to continued stagnation in the European IT sector, compared with the US.
The Infoconomy Global Index – the measure of the quarterly revenue performance of the world's 200 largest companies – jumped to 3.7% in October from 2.4% a month earlier. However, the European industry shrank a further 7% in October.
That seems to indicate that, if European businesses are spending more on IT, then they are largely spending it with US suppliers.
