As both sides of the Atlantic continue to be bombarded with depressing statement after depressing statement AMR’s report on supply management technology spend brightened the mood somewhat yesterday.

After worrying reports from some of the world’s largest companies sent stocks plummeting for the third day in succession – much to the chagrin of the Federal Reserve, who have barely had time to give themselves a celebratory pat on the back after their huge interest rate cut – the news that companies are preparing to up their supply management spend by as much as 14 percent over the next 12 months suggests that things aren’t as bleak as many would have us believe.

Of course, given recent events this figure could decrease significantly in the not-too-distant future, but as Jason Busch quite rightly states in his spendmatters blog on the subject - “sometimes you've got to spend a little to save a lot.” Lets hope that sentiment still resonates when times get tough.