US companies signed fewer outsourcing contracts in 2007 and committed less time and money to those they did purchase, according to the most recent TPI data.

TPI recently released findings from its study of the first three quarters this year and found that the number of outsourcing contracts awarded globally declined 16% when compared with the same period in 2006. The total contract value of deals worth more than £25m awarded in the past nine months reached about £24bn, which is 17% less than the comparable period in 2006. And annualised contract value – contracts valued at £25m or greater – also decreased by 18% over the same time last year.