Technology will spearhead recovery, sector leaders believe

Technology will spearhead recovery, sector leaders believe

According to new research from KPMG, a global consultancy, leaders in the technology industry expect their sector to bring the economy out of the recession.

The poll results suggest two-thirds of senior technology executives believe the industry will fully recover before the rest of the U.S. economy does. In Silicon Valley that sentiment is even more widespread, with 77 percent of respondents expressing that view.

Moreover, a total of 80 percent of those surveyed say they expect business conditions in the technology sector to improve next year. Vast majorities also expect stronger revenues and improved profitability, at 78 percent and 72 percent, respectively.

Gary Matuszak, partner, global chair and U.S. leader for KPMG's Information, Communications and Entertainment practice, says the results are consistent with recent earning reports which found business conditions for the technology sector appear to be improving.

"There are also reports of software industry sales expanding 5 to 10 percent annually after the recession," he adds.

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