"Technology" as a sector of the economy

Magazines, newspapers, business entities, etc. typically classify "technology" as a sector of the economy.

Is this appropriate?

By technology, they typically mean companies/firms involved in computing, electronics, genetics, etc. However, this is not the true definition of technology:

1.	the branch of knowledge that deals with the creation and use of technical means and their interrelation with life, society, and the environment, drawing upon such subjects as industrial arts, engineering, applied science, and pure science.

2.	the terminology of an art, science, etc.; technical nomenclature.

3.	a technological process, invention, method, or the like.

4.	the sum of the ways in which social groups provide themselves with the material objects of their civilization.

So why not include the newest tractors or cranes next to the newest operating system?

Instead of saying "technology" is a sector of the economy, would it not be more appropriate to rather say that technology is the cutting edge of *every* industry? Or better yet, to replace the word "technology" with "cutting edge"?