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The Economist Intelligence Unit: Tech Sector Barometer January 2011: Quietly confident

Despite global financial pressures, technology executives and companies are generally confident on business prospects for the next six months.

In its Tech Sector Barometer, the Economist Intelligence Unit says the European currency crisis, high U.S. unemployment, and continued worries about a possible double-dip recession are somewhat affecting the high tech sector. But the report findings show that the industry is optimistic overall, with executives saying they are positive about prospects in the next six months.

Key findings of the survey include:
• Optimism about future demand has slightly decreased from March 2010, but confidence is still high.
• Telecom service providers are more negative on revenue prospects than telecom equipment or IT companies.
• More than 40 percent of respondents expect R&D activity to grow in the next six months, up from 35 percent in November 2009.
• Asia-Pacific and North American executives are more confident in tech companies than Europeans.
• Worries are mounting about skilled worker shortages.

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