IT outlook is not so dim

Prospects for the information technology industry remain strong despite the recent downturn, the latest OECD Information Technology Outlook says.

New products and services such as broadband will continue to drive demand from firms, households and governments, and falling costs and technological developments will help. And despite the slowdown, markets for information and communications goods and services were equivalent to 8.3% of total GDP of OECD countries in 2001, compared with less than 6% in 1992.

Just as the information technology sector was affected by, and contributed to, the current downturn, there is strong reason to believe it will have a significant role to play in the next recovery, the report says.

© OECD Observer No 233, August 2002

Economic data

GDP growth: -1.8% Q1 2020/Q4 2019
Consumer price inflation: 0.9% Apr 2020 annual
Trade (G20): -4.3% exp, -3.9% imp, Q1 2020/Q4 2019
Unemployment: 8.4% Apr 2020
Last update: 9 July 2020

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