An OECD report says there are "signs of recovery" in the global IT industry after positive month-on-month growth for most countries between May and June.
After a tough start to 2009 the rate of decline appears to be bottoming out, and the month-on-month upturn in China, Japan, Korea and Chinese Taipei has been very rapid.
The report showed performance in the first quarter of 2009 declined, often sharply, but that year-on-year declines were not a great deal worse than 2001-2002.
Global hardware IT firms took the brunt of the recession early on, as semiconductors, electronics, communications and IT equipment were hit by slumps in demand from both consumers and businesses.
But growth for IT services firms - software, internet-related and telecoms - has also slowed. Their performance is worse than in 2001-02, while hardware is performing better.
The report says, "In general, despite a very difficult first quarter large firms in the ICT sector were stronger at the end of Q1 2009 than following the 2001 dot.com bust."
Countries' short term stimulus packages have had an effect on their IT sectors. There has been a raft of direct investment in broadband networks, and the report says, "Stimulus packages often have a more indirect but larger impact on ICT deployment and use, for example investment in 'intelligent' transport systems, greener cars with more electronics and embedded software, smart buildings and electricity grids, health, the environment, and modernising public services."