This quarterly global snapshot of activity in the technology sector highlights trends, business challenges and opportunities. In this edition we review the first calendar quarter of 2016.
The technology sector revenue posted a year-over-year decline of 2.1% and a quarter-over-quarter decline of 6.8% in the first quarter of 2016. North America was the strongest region for revenue growth, followed by Western Europe and Asia-Pacific.
The Internet subsector remained the growth driver for the technology sector. However, currency volatility continues to impact company revenues. The subsector reported a strong quarter with 11% year-over-year revenue growth.
On the economic front, the quarter was marked by mixed performance. Weak financial markets and volatile oil prices impacted the US economy. The Eurozone economy, on the other hand, posted strong results, growing at its fastest pace in the last year. Chinese stocks, which made gains in the previous quarter, once again witnessed volatile movement in Q1 2016. The Shanghai Composite Index started the quarter at 3,296.3 and declined 19% to reach 2,688.0 on 29 February
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