The Tech Pulse Index is an index of coincident indicators of activity in the U.S. information technology sector. It can be interpreted as a summary statistic that tracks the health of the tech sector in a timely manner. The indicators used to compute the index are investment in IT goods, consumption of personal computers and software, employment in the IT sector, as well as industrial production of and shipments by the technology sector. The index extracts the common trend that drives these series.
In July 2014 the Tech Pulse Index grew at an annualized rate of 7.4%, compared to its 13.0% historical average. The Tech Pulse Index grew 3.1% over the past 12 months.
Tech Pulse Index and Underlying Indicators.
Bart Hobijn. 2009. "The Tech Pulse Index: Recent Trends in Tech-Sector Activity." FRBSF Economic Letter 2009-03.
Bart Hobijn, Kevin J. Stiroh and Alexis Antoniades. 2003. "Taking the Pulse of the Tech Sector: A Coincident Index of High-Tech Activity." Current Issues in Economics and Finance, 9 (10).
Bart Hobijn, Tech Pulse Index: Sources and Methodology.