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IT Sector Sees Growth

Analysis by Giant Group PLC has indicated a growth in the IT sector for the first time in 2 years.

The 2% rise is a very positive sign for the sector, and shows a stabilisation in a market that has been lacking in economic investment in the recent financial climate.

Managing Director Matthew Brown told Shout 99 ‘IT is very dependent on investment, but with businesses hoarding cash, spending on IT has taken a hit. With the Eurozone crisis appearing to stabilise, hopefully what we are starting to see now is organisations push the button on IT projects which were put on hold during the recession.’

Mr. Brown also said that the government could do more to aid the plight of the IT industry, pointing to helping small business and creating jobs and opportunities as a possible method.

Whilst there are encouraging signs of growth, the analysis has also indicated that not every contributing sector has seen similar rates of investment and prosperity. Insurers and retailers have heavily invested in IT recently, with many focussing their attention on technology to sell products via mobile phones and tablets.

However the banking and public sector is still rather subdued, indicating that the IT sector still has some way to go until it is fully recovered from the implications of the Eurozone crisis, credit crunch and the general economic downturn of recent times.

By Sean Dudley

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