In the last economic downturn, between 2000 and 2003, outsourcing growth did not slow significantly. Corporations got lucky. Just as IT expenditures had to slow after the heady overinvesting of the e-business bubble years, and as business slowed too in most sectors, the global services market produced two genuine safety valves to the downward pressure on costs: increased offshoring (either outsourced or in a captive center) and the growth of business process outsourcing (BPO).