IT professionals are slightly more optimistic about their prospects than they are about the state of the U.S. economy, according to the latest CompTIA IT Industry Business Confidence Index.
The Index, which is compiled every six months, measures three metrics: opinions of the U.S. economy, opinions of the IT industry and opinions of ones company. The latest index for September shows an increase in confidence of IT professionals about their own prospects, with that component increasing 3.2 points.
Fears over the U.S. economy, however, have flattened the index overall, with the U.S. economy component of the index falling 2.3 points. In particular, fears of a stalled recovery increased, with 55 percent of respondents saying it is a significant concern compared with 46 percent in June.
The takeaway in comparing the index from June is theres not a lot of change, which isnt surprising since the economy has been stagnant,” said Carolyn April, director of Industry Analysis at CompTIA. The IT community is cautiously optimistic.
Confidence hasnt declined; it was up 3.2 points from June,” she continued. I think the reason is from psychological standpoint businesses try to be optimistic about their own growth.”
Increased access to financial help also may be boosting confidence, according to the index. The small, medium and especially larger companies reported better access to financing over the last three months,” April said. The macro sector those with $1 million or less in revenue was the only sector that reported still having trouble in that area.”
The still-stagnant economy coupled with the cautious optimism is creating the perfect storm for solution providers interested in changing or evolving their business models, or moving into areas of specialty, April said.
IT firms are spending on R&D and revenue-generating initiatives, for the most part,” she said. Doing so positions them well when economy finally rebounds, and those that didnt will find themselves back at square one.”
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May 24 2019 @ 15:22:08 UTC