The German high-tech industry expects further growth this year.

Eight out of ten companies (81%) in the areas of information technology (IT), telecommunications and consumer electronics expect rising turnover in the next months. Only 8% expect a decline, according to a survey conducted by industry association BITKOM.

In the first half of 2014, around three quarters of the companies (74%) already achieved rising turnover, 13% experienced a downturn.

Business went particularly well for IT service providers of which 84% recorded rising turnover. Among software companies, 81% achieved growth.

More than two thirds of the companies (68%) want to hire new employees this year. Only 8% expect that they’ll have to reduce their workforce.

By the end of 2014, BITKOM expects a total of at least 927,000 employees in the German high-tech industry – an increase by 10,000 compared with last year.