CompTIA IT Industry Business Confidence Index Improves for Third Consecutive Quarter Measure of business optimism inches up; six-month forecast also positive
DOWNERS GROVE, Ill., April 22, 2013 /PRNewswire-USNewswire/ -- For the third consecutive quarter the CompTIA IT Industry Business Confidence Index recorded a positive gain in Q2. The Index is a measurement of technology business sentiment produced by CompTIA, the leading non-profit association for the information technology (IT) industry.
The CompTIA IT Industry Business Confidence Index is now at 58.0 on a 100-point scale, up from 56.1 in the first quarter.
Positive gains over the last three quarters represent the longest period of upward momentum in the history of the index, which is comprised of three metrics: opinions of the U.S. economy, opinions of the IT industry and opinions of one's company.
Looking ahead, survey respondents project a two-point increase in confidence over the next six months, driven primarily by expectations of a strengthening macro economy.
"The data suggests that IT companies are feeling better about business conditions," said Tim Herbert, vice president, research, CompTIA. "Generally, demand for technology has been consistent in many areas and among many customer segments. Technology has never been so accessible and affordable for businesses of all sizes."
Thirty-eight percent of IT companies plan to increase their investment in new products or business lines over the next six months, an indicator of both the desire to capitalize on emerging technologies, as well as an expectation for future revenue opportunities. This figure is down slightly from the Q1 reading, but still rates highest among business investment IT companies plan to increase.
Herbert cautioned, however, "a number of factors are still cause for concern, such as the stubbornly high unemployment rate, the unknown effects of the federal government sequestration cuts or turmoil overseas. Business sentiment can quickly deteriorate with bouts of volatility."
CompTIA's IT Industry Business Confidence Index for Q2 of 2013 is the result of an online survey of 309 IT companies conducted in late March. The full report is available at no cost to CompTIA members. Visit CompTIA.org or contact firstname.lastname@example.org for details.
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