Despite four-point drop, Index remains on solid footing for 2017
Downers Grove, Ill. – The CompTIA IT Industry Business Confidence Index retreated in Q2, falling to 64.2 on a 100-point scale, a decline of 4 points from the record-setting high of 68.2 recorded in Q1.
Even with the decline the Index remains on solid footing for 2017.
“For the 14th consecutive quarter the aggregate rating came in above the 60-point threshold,” said Tim Herbert, senior vice president, research and market intelligence, for CompTIA. “The confidence level of industry executives reflects the continued strength of the IT sector, as well as a steadily improving economy.”
Another positive sign appears in the revenue tracking data.
“A strong majority of executives – 83 percent – said their companies are on target or ahead of revenue goals for the year,” Herbert noted.
For the approximately 20 percent of companies that are lagging in revenues, some self-evaluation may be needed.
“Firms that are not where they want to be at this point in time may need to assess whether they’re offering the right mix of products and services to satisfy the ever-evolving technology needs of customers,” Herbert said.
The CompTIA IT Industry Business Confidence Index is based on IT executives’ opinions of the U.S. economy, the IT industry and their own company. It has been published by CompTIA, the world’s leading technology association, since 2009.
All three Index components declined in the Q2 survey. The U.S. economy rating fell from 64.7 in Q1 to 60.0 in Q2, while the IT industry rating declined by 4.4 points, from 71.1 to 66.7. Self-assessment company ratings were down modestly, from 66.2 to 65.9
Industry executives expect a rebound in Q3, with the Index projected to climb to 66.6 next quarter.
The CompTIA IT Industry Business Confidence Index for Q2 is based on an online survey of executives at 239 U.S. technology companies. The survey was conducted between May 4 and May 15.
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Access Now$2 trillion – Estimated direct economic impact of the U.S. tech industry, representing 8.8% of the national economy.
582,000 – Number of tech business establishments in the U.S.
9.1 million – U.S. net tech employment at the end of 2022.
286,400 – Estimated number of new technology jobs added in the U.S. in 2022.
4.1 million – Number of postings by U.S. employers for tech job openings during 2022.
