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Companies expected to invest in new technologies, but spend less

Published by Steve Coleman on May 02, 2012

Despite the pessimism in world markets, the world economy has resisted sliding into another recession a new Scotia Economics report says.

Real GDP growth was 3.7 per cent in 2011 and is expected to reach 3.5 per cent this year, back to normal levels recorded for the last 40 years.

With European countries looking to get spending under control, the bank says one of the first things to go may be technology spending. While Western Europe has accounted for an estimated 27 per cent of the world's spending in the last two years, levels are expected to drop from double digit increases into the five per cent range.

The shift to more-mobile technologies also means companies are expected to spend more of their tech dollars on cloud computing, tablets and ebook readers.

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