December 2015 was
the
end of a record-breaking year in many aspects, culminating 12 months of frenetic deal activity and low organic growth. As tracked by Dealogic, the technology sector was behind only healthcare in total aggregate deal volume at $713 billion. 
But while the year ended strong, with the Fed feeling confident enough to raise interest rates for the first time in nine years and overall markets closing comfortably higher following a fourth-quarter rally that began in October, 2016 has been another story altogether: the worst January performance since 2009.
Today, as we release the latest IT Index report, we look at how these trends affect and are reflected in the performance of our core IT segments: IT Services and BPO, IT Supply Chain, and Software and SaaS.
We also review the performance of the Chinese and Indian IT markets. Chinese markets have been especially rocked at the start of the new year, confounded by declining prices for natural resources such as oil and the official announcement of the country's lowest growth rate in a quarter of a century. In contrast, however, India has enjoyed relative stability - it has been described as "the last BRIC standing" and its growth has held up despite the introduction of higher interest rates for the US.
