The technology sector will grow less under President-elect Donald Trump than it would have if Democratic nominee Hillary Clinton won the election, according to a revised tech forecast from Forrester Research, NextGov reports.
Forrester predicts the tech sector under Trump will grow 4.3%, compared to the expected 5.1% jump it predicted under a Clinton administration.
That equates to an estimated $1.49 trillion spent on IT goods, services and staff in 2017 under Trump, compared to an estimated $1.51 trillion under Clinton.
Forrester reworked its 2017 U.S. tech market projections after Trump’s surprise victory.
Trump hasn’t yet shared many specifics about the technology issues he intends to focus on during his presidency. But technology leaders have voiced concerns that he might stifle innovation. In July, 300 technology sector leaders sent an open letter to express their lack of support for Donald Trump's campaign for President of the United States, saying Trump would be a "disaster for innovation."
Rafael Laguna, CEO of Open-Xchange, a German open-source company specializing in open-source email software, recently told CIO Dive that economic forecasters in Europe predict Trump will be bad for the U.S. tech economy.
"Nobody, I think, outside the U.S. wants the U.S. tech industry to go down, but of course it may happen and the beneficiaries would become companies like mine and other European companies," said Laguna.