"Confidence moved up again sharply in the fourth quarter," said Dr. Derek B. Smith, director of the Index's parent group, The Global Technology Confidence Indicators. "In a surprisingly strong showing, our Global Technology Confidence Index reached a new high after drifting slightly in the summer quarter. This puts a new complexion on the history of this measure, since it now appears that confidence was not moving into a cyclical downturn last time, but that it had been having a pause for consolidation after the sharp rises between spring 2003 and the first quarter 2004."
"This is the first occurrence where both composite indices have risen - The Technology Confidence Index and The Business Confidence Index," said Eric Koomen, coordinator of operations for GTCI. "Perhaps this combination suggests a solid foundation for short term growth, as we saw immediately following the positive results of our second report from the fall of 2003."
THE GTCI INDEX is composed of both the Technology Confidence Index (making up three-quarters of The Index) and the Business Confidence Index (making up one-quarter of The Index).
TECHNOLOGY CONFIDENCE INDEX
"A strong performance for the Technology Confidence Index had it breaking out of the narrow band around its initial value in which it had been trapped for over a year," said Smith. "This latest figure suggests a more robust interpretation of the time series so far, indicating essentially a 'no change' picture with fluctuations for the first five assessments, with evidence now of a decisive move upwards in technology confidence."
GTCI Technology confidence Index:
Oct.'03: 99.2 Jan.'04: 100.5 Apr.'04: 100.5 Jul.'04: 99.8 Oct.'04: 102.5
BUSINESS CONFIDENCE INDEX
"Following the drop in business confidence in the summer," said Smith, "things improved sharply through the fourth quarter, with the index bouncing back nearly a full point to a new high. Taking the long view, after moving ahead by seven points between our first and second surveys, the confidence index appears to have been oscillating for the past year, unclear whether to break out into new territory or fall back. The latest result is driven by a strong showing from Latin America supported by North America and Japan, but with Europe and the 'Rest of world' falling back a bit."
Among a number of other revealing findings in the GTCI Report:
Business Outlook
Human Capital
Technology Alignment
Technology Innovation
Strategic Project & Process Management
Technology Management
The full GTCI Report 2004, Volume 4, is made available for free to all GTCI Senior International Executive Members. Report samples and additional information on GTCI can be accessed at www.Stevens.edu/gtci. To obtain a copy of this latest GTCI REPORT or previous GTCI REPORTS please contact the GTCI office at Stevens. All inquiries about the survey,report, and GTCI partnering opportunities may be addressed to Eric Koomen at 201-216-8546 or ekoomen@stevens.edu.
GTCI is a program of the Howe School of Technology Management at Stevens Institute of Technology, located in Hoboken N.J., across the Hudson River overlooking the Manhattan skyline. The Howe School also provides executive educational opportunities within Stevens Technogenesis® environment: Stevens Institute of Technology has excelled in bridging academic studies and research with real world implementation for more than 130 years. Established in 1870, Stevens offers baccalaureate, masters and doctoral degrees in engineering, science, computer science, management and technology management, as well as a baccalaureate in the humanities and liberal arts, and in business and technology. The university has enrollments of approximately 1,780 undergraduates and 2,700 graduate students, and a current enrollment of 2,250 online-learning students worldwide. Additional information may be obtained from its web page at www.Stevens.edu.
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