Technology and Telecommunications
Turnover in the telecommunications sector has continued to decline. This recent decline in performance is particularly startling given how strongly the sector had been growing in recent years. The telecommunications sector looks to be getting to grips with the overall weak economic environment, rather than relying on continuous recession-proof uptake of products and services.
High-tech sectors mostly show rapid growth following periods of significant technological innovation, as consumers and businesses adopt new technologies. However, once these technologies have largely been adopted, underlying growth in the sectors begins to slow and becomes more closely aligned to economic fundamentals.
The IT sector is seeing varied performance, with software performing significantly stronger than hardware. Turnover in the computer programming, consultancy & management sector continues to grow.