By James Phillipps Increasing technology spend by companies will take over from consumption as the ...
By James Phillipps Increasing technology spend by companies will take over from consumption as the leading driver of the US economy, according to Credit Suisse First Boston. Technology spending is also expected to have a crucial impact on the growth in both Europe and Japan over the coming year. The anticipated high level of investment into technology upgrades underpins Credit Suisse's above consensus global GDP forecasts of 4.5% this year and 4.2% next year. Oil prices are one main source of risk to these forecasts, although the group does envisage a return to Opec's $22 to $28 price ta...
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