British tech firms defied a wider UK slowdown at the end of 2014

BRITAIN’S tech sector dodged a slowdown across the wider UK economy during the fourth quarter of 2014, driven by new business and a supportive funding landscape.A cross-sector benchmark of UK businesses pegged activity at a score of 55.2 at the end of last year. But KPMG/Markit’s Tech Monitor UK survey said that UK tech companies rose sharply to a score of 59.8. Figures above 50 indicate growth.“In the run up to the General Election, the message from the latest Tech Monitor UK survey is clear; the tech sector remains a star performer of the economic recovery, and the future looks resoundingly bright in terms of industry growth and job creation,” said KPMG head of technology Tudor Aw.The survey, compiled from a group of around 150 tech firms within Markit’s regular purchasing managers’ index, also revealed a huge rise in the index measuring tech sector profitability, which rose from 52.5 in the third quarter to 55.8 in the fourth quarter 2014.