Outsourcing activity in Europe fell by 29% in the second quarter of this year, thanks to "macroeconomic uncertainty and concern about the future of the Euro", according to outsourcing advisory ISG.

The number of deals worth €20 million or more signed during the quarter was 65, down 29% from the second quarter of 2011, ISG's latest TPI index found. And the combined value of contracts signed was €6.7 billion, down 21% from last year.  The decline was especially pronounced in mature outsourcing markets, with total contract value in the UK falling 12% to €5.7 billion. "By contrast, France, Southern and Eastern Europe maintained their five year averages," ISG said.

Source: Information Age