The technology sector, as measured by the group of companies in this study, posted strong year-over-year revenue growth of 9% in Q1 2017. Revenues did decline by 12.9% from the prior quarter, however, this is not surprising since sequential decline in this period is a common trend every year due to increased holiday sales in Q4. Growth was led by the Internet, Semiconductors and Systems and PC Hardware sectors. Both global technology IPOs and tech M&A activity posted strong results in the first quarter, with triple digit year-over-year growth. Despite uncertainty relating to potential US policy changes, the global capital markets remained optimistic and global economic confidence reached its highest level since the second quarter of 2015.
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