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Confidence in IT industry on the rise

There is a growing confidence in the IT industry that is expected to increase over the next six months, research has revealed.

According to trade body CompTIA's latest IT industry Business Confidence Index, the level of business confidence in the industry is expected to rise by 5.4 points between now and December.

Six out of ten respondents expect their revenues to increase considerably during the second half of the year compared to the first six months.

Companies are less concerned about a number of factors than they were six months ago, including access to credit and the threat of a stalled recovery.

While in December 2009 58 per cent of respondents admitted to fears over a stuttering recovery, only 46 per cent acknowledged similar concerns this time.

In addition, those worried about obtaining credit fell from 41 to 26 per cent during the same period.

Tim Herbert, research vice president at CompTIA, said: "IT industry executives remain relatively confident about the tech sector and about their firm's prospects, but concern over the health of the economy persists."

Chief financial officers are feeling positive about hiring and economic conditions in general, it was recently reported by eWeek.com.

By Will TurnerADNFCR-2165-ID-19898166-ADNFCR