German tech sector expected to outperform ailing economy in 2024 -study

Germany's IT and telecommunication (ITC) sector is expected to speed up its growth this year and clearly outperform Germany's ailing economy, a study by German digital association Bitkom showed on Wednesday. According to the study, the sector's revenues are expected to rise by 4.4% to 224.3 billion euros ($245.09 billion), compared to a 2.0% increase last year. "Even under difficult economic conditions, characterised by geopolitical crises and budget cuts, sales and employment (within the sector) are increasing," said Bitkom President Ralf Wintergerst.