Still Waiting For A Technology Upturn

Jan. 13, 2005
By John S. McClenahen An 18.3% increase to $6.3 billion in new orders for communications equipment in July wasn't enough to convince Bruce Steinberg that the technology sector is finally coming out of its economic slump. "The tech sector remains very ...
ByJohn S. McClenahen An 18.3% increase to $6.3 billion in new orders for communications equipment in July wasn't enough to convince Bruce Steinberg that the technology sector is finally coming out of its economic slump. "The tech sector remains very weak," says Merrill Lynch & Co.'s chief economist, noting that computer orders fell 4.1% in July and orders for semiconductors plunged 26%. He figures that spending on technology fell at a 16% annual rate during the first half of this year, the steepest decline, he says, on record. "Further cuts appear to be occurring in the third quarter, but probably not as deep as during the first half," says Steinberg. "U.S. growth will remain sluggish until the tech sector turns. We assume that will begin to occur during the first half of next year."

Popular Sponsored Recommendations

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

How Digital Twin Technology is Empowering Manufacturers

Sept. 27, 2023
This FAQ delves into why this technology offers business value and considerations toward implementation.

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Disruptive EV Technologies Are Driving New Supplier Realities

Sept. 20, 2023
Vehicle electrification is upending the automotive landscape, forcing suppliers to make critical strategic and operational decisions. Understand what that means for you in our...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!