Saturday, October 21st, 2017

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Technology Industry Expects Delay in U.S. Recovery

Electronics companies are still some ways from a full recovery.The technology industry is one of the leading sectors in the U.S. economy, but executives are ambivalent about the industry’s growth in coming years, according to a new survey from KPMG.

The survey included 102 executives from software and hardware companies, most with more than $1 billion in revenue, but all with more than $100 million. Of this group, only 49 percent said they expected their number of employees to increase by the end of the year, compared to 72 percent last year. More than one-fifth – 21 percent – expect their company will never return to the levels of employment they saw before the financial crisis, though twice that number expect a full recovery within 18 months.

KPMG’s global chairman and U.S. leader for technology, communications and entertainment, Gary Matuszak, told Bloomberg that many companies saw easy growth last year as production returned from their lowest recession levels. Continued growth from that point is proving more difficult.

Still, some good news emerged for the U.S. economy, which is expected to lead revenue and employment growth in coming years, surpassing those of China and India.

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