Our growth forecasts highlight that the technology sector will continue to excel in 2025, driven by strong demand from companies for IT infrastructure (data centre capacity), devices, software, and services. This also boosts the overall figures for the broader Technology, Media & Telecom sector.
For the technology sector, 2026 is also expected to be a growth year, as the significant surge in AI implementation and AI-driven growth will take time to fully materialise. While manufacturing may not be a growth champion in 2025, it is back in the middle of the pack as production volumes recover due to a pick-up in consumer spending. For now, inventory levels are considered too high which is still weighing on growth. That needs to change to get a more sustained turnaround. High-growth subsectors within manufacturing include aerospace and biotech, both of which are high-tech and not energy-intensive, as well as the defence industry, which is benefiting from increased defence spending.