OECD: IT economy in for some serious battering in 2009
The Organization for Economic Co-Operation and Development (OECD) is comprised of thirty member states, primarily Western and Asian industrial democracies. Information and communications technology (ICT, in its parlance) is among the industries that it tracks, and the group has just issued its annual report for 2008. It concludes that the information and communication technology (ICT) economy is slowing down in line with the drop in GDPs, and may be in for a decline in 2009. But that decline won't be uniform, as at least some sectors are likely to see growth.
Overall, ICT business has firmly established itself as a significant part of the economy of the OECD member states, accounting for 8 percent of their business GDP and employing 15 million people. 2007 had seen robust growth in this sector, but those happy days appear to be behind it. 2008 growth is expected to be 4 percent "at most," while the report predicts that it will be flat or decline during the coming year.
