In theory, IT should be counter-cyclical to some extent and it certainly used to be, in the 1980s and 1990s. The dot com recession could be treated as an exception, because it was so IT focused. But things have changes. Nowadays, a good deal of IT is in the consumer market (PCs, mobile phones, etc.) So the recession was bound to smack IT upside the head - and IT consumer products are suffering...
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