The US Debt Crisis - Implications For The ICT SectorAugust 2011 | Industry Trends And Developments
On August 1 2011 the US House of Representatives approved legislation to raise the debt ceiling by US$2.1trn and cut spending by US$2.4trn during the next ten years. The plan secures the US economy from defaulting at least until 2013 and was welcomed by the markets. However, the escalating debt coupled with spending cuts and a sluggish economic recovery means BMI is bearish over the future of the US, and raises concerns over consumer demand in the ICT sector. Despite this, BMI believes the US telecoms market will remain buoyant and the main operators will continue to grow steadily throughout 2011.
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