Authors: Bart Hobijn, Kevin J. Stiroh, and Alexis Antoniades

A new index of the U.S. high-tech sector—drawing upon a range of technology-specific data—has the potential to offer a more timely assessment of economic activity than has been possible to date. The index suggests that while the tech sector has rebounded from its poor performance in the 2000-01 "tech bust," it has not resumed its rapid expansion of the late 1990s.