The global outsourcing market has slowed in the past three months, according to new figures.

The figures, from sourcing data and advisory firm TPI, shows that only 128 contracts were signed globally totalling €11.5bn (£8.98bn) – the weakest quarter for total contract value of outsourcing deals in the past six years.

However, for the year-to-date the volume and value of outsourcing contracts is exceeding metrics for 2007 and all indicators suggest that the full year of 2008 is on course for a strong overall result – beating 2007’s total of €68bn (£53bn).

Duncan Aitchison, partner and president, TPI EMEA, said: “While the TPI Index reveals a slowdown in outsourcing activity in the past three months, we believe that this is temporary and that 2008 is still set to post strong annual figures, surpassing 2007. Third quarters are traditionally weak, and looking ahead, we see considerable activity in the market.”