European IT market 'to grow in 2008'

The European market for telecommunications and IT is predicted to grow by three per cent over the course of 2008, according to the European Information Technology Observatory (EITO). 

As such, the market is expected to reach a value of €761 billion (£595.58 billion) during this year. 

EITO chairman Bruno Lamborghini comments: "The high-tech industry is again achieving a considerable plus on an already high level." 

He adds that European firms are well-positioned to "excel" in global competition due to solid growth in the continental market as well as "enormous potential in know-how". 

The strongest growth was demonstrated by Spain (4.6 per cent) and France (3.2 per cent), while the UK leads in terms of value with an ICT market worth €152 billion.

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