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Europe outsourcing falls in Q3 .

The latest report from Information Services Group (ISG) shows that the annual value of Europe’s managed services contracts dropped by more than €900 million sequentially in the third quarter amid recession fears that tempered spending on technology services.
The EMEA ISG Index which measures commercial outsourcing contracts with annual contract value (ACV) of €4.5 million (£3.9 million) or more, found the ACV of the region’s managed services contracts in the third quarter declined 31%, or €910 million (£792 million), quarter over quarter, to €2 billion (£1.8 billion). Compared with the 2018 third quarter, managed services ACV was down 17%.
At the same time, demand for cloud-based as-a-service solutions rose 10% year over year, to a record €1.6 billion (£1.4 billion).
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