Reportedly, the German technology sector is predicted to outshine the struggling economy in 2024

German digital group Bitkom released a report on Wednesday that indicated the country's IT and communications (ITC) industry is predicted to develop at a faster rate this year and outperform Germany's struggling economy.

The research projects that the sector's sales would climb by 4.4% to 224.3 billion euros, up from a 2.0% increase in the previous year.

Nonetheless, the industry's anticipated growth for this year is modest when compared to other nations, such as China, which is forecast to expand 5.7%, the United States, which is predicted to grow 6.3%, and India, which is projected to expand by 7.9%.

Bitkom President Ralf Wintergerst urged the government to place digitization and economic development at the core of its policies, saying that "companies and administrations need to ramp up their investments more decisively for Germany to catch up in terms of digitalization."

Germany's GDP is predicted by the International Monetary Fund to rise by just 0.9% overall in 2024, which is considerably lower than the advanced nations' average growth rate of 1.4%.

(Sources: investing.com, reuters.com)