US tech sector February growth is at 35.3%

The U.S. technology sector grew at a solid pace in February, but new jobs remained elusive, according to a study released by the New York Federal Reserve Bank on Wednesday.

The U.S. technology sector grew at a solid pace in February, but new jobs remained elusive, according to a study released by the New York Federal Reserve Bank on Wednesday. The Tech-Pulse Index, a compilation of data on activity in the U.S. tech sector, grew at an annualized rate of 35.3% in February, down from a revised 39.9% annual rate in January in inflation-adjusted terms, which take into account falling technology prices. January's growth was originally reported as an annual 36.0% pace.