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It is forecast that even when companies are tightening their belts, they will continue to invest in computers, software and IT services because they enable businesses to be more efficient and economic. The demand is set to rise to 315 billion Euro. It was also forecasted that the same would happen in the public sector, among contractors.

However, it is not such a happy story for the IT hardware business - manufacturers are expected to lose 1.3%, a drop to 87 billion Euro. The USA is also not fairing as well as it's European neighbours. IT turnover is now only forecast to grow by 0.8%, whereas before the economic downturn became so serious the assumed growth of the USA market was expected to be at 4.4% - a dramatic difference.

The good news has been that so far, the (Western European) IT industry has coped with the global financial crisis very well. Long may it continue.