Technology Companies Positive about Sector but Negative about Wider Economy

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28th August 2012 16:02 - Information Technology

A survey published by Intellect, the trade association for the UK technology sector, has demonstrated optimism within IT businesses despite the poor state of the economy.

Company CEO’s who took part in the research claimed to have enjoyed success over the past six months which will see them expanding and recruitingnew staff in the near future.

A majority of 51% of technology firms said their business prospects had improved or stayed the same, with 60% having increased their level of investment during this period.

In the next six months, 67% said they are gearing to expand and 43% claimed they were very likely to recruit new staff.

Nevertheless, aside from their own optimism, many of those questioned continue to feel a lack of confidence in the economy at large – only 22% think conditions will improve in a year’s time.

Intellect’s Deputy Director General, Antony Walker, commented: “There is clearly a divide between how confident business leaders feel about the prospects for their own business compared to the economy as a whole. Despite the difficulties, it appears that companies have invested during this year and are now looking to maximise that investment.”

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