June 19, 2007
Tech industry weakens
By Matthew L. Brown
According to an index maintained by Cambridge-based Forrester Research and the Information Technology Association of America, the U.S. technology sector took a 2.6 percent dip in the first quarter.
According to the index, the drop to 125.1 on the index is the first decline for the tech sector in a year.
According to Forrester, "a substantial drop in foreign trade was the leading contributor to the decline in the index."
U.S. technology exports tumbled 5.8 percent during the quarter, Forrester said. The index dropped as overseas demand for computer equipment, communications equipment, semiconductors, magnetic and optical media and software fell.
Forrester said the decreased overseas demand went hand-in-hand with decreased domestic demand for the same products, and "is mirroring the slump in the U.S. market after several quarters of doing well in spite of it."
According to the index, the drop to 125.1 on the index is the first decline for the tech sector in a year.
According to Forrester, "a substantial drop in foreign trade was the leading contributor to the decline in the index."
U.S. technology exports tumbled 5.8 percent during the quarter, Forrester said. The index dropped as overseas demand for computer equipment, communications equipment, semiconductors, magnetic and optical media and software fell.
Forrester said the decreased overseas demand went hand-in-hand with decreased domestic demand for the same products, and "is mirroring the slump in the U.S. market after several quarters of doing well in spite of it."
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