So Infosys announced increased sale and profits today. Compared to some of its growth rates over the last decade it might appear a disappointment. But in the current climate it was good news.
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The company said the recovery is being driven by the financial services sector in the US. Quite ironic as that was where a lot of the problems started.
BG Srinivas, who heads up Infosys in the UK, says the UK is behind the US in recovery terms but there are positive signs.
Is it just a case of businesses outsourcing to cut costs? Or is it actual investment in strategic projects?
With Forrester predicting Europe to lead the IT sector out of recession things could be much brighter in the outsourcing sector this year.