The European information and communications market grew 5.1% in 1994, to $360,000m, after growth of only only 3.7% in 1993, says the most recent edition of the European Information Technology Observatory. The Brussels-based agency forecasts growth in 1995 of 5.9%, 6% in 1996. In 1994, Europeans spent $166,000m on information technology equipment, software and services and $194m on telecommunications equipment. This year, those totals are expected to reach $421,600m and $206,900m respectively. The group says growth in market value is expected this year despite the continued drop in prices. The average European selling price for Pentium personal computers for example, has fallen 62% in three years, to $2,950 today from $7,700 in 1993.
