Tech Sector Rebound Not Seen Until 2004

The German information technology and telecommunications industry does not expect a real recovery until 2004, according to the industry association Bitkom. Nonetheless, most industry sectors report general confidence, Bitkom Vice President Willi Berchtold said on Tuesday as he presented the bi-annual industry survey in Munich. In 2003, the market is expected to grow between 0.4 and 0.5 percent said the association, reaffirming earlier projections. In the coming year, growth of 0.7 percent is expected.