from Ed.Net Briefs 11.1.99 :
INTERNET ECONOMY GREW 68% LAST YEAR
The
Internet economy grew 68 percent in 12 months, far out-performing the 6
percent growth of
the overall economy in the United States. It will top a half-trillion dollars
this year,
according to the study sponsored by Cisco Systems. Jobs connected to the
Internet
increased 46 percent to 2.3 million from 1.6 million last year. Revenue from the
Internet economy in the first quarter was $108 billion, up from $64 billion in the first
quarter of
1998. For the year, the study estimates that Internet revenue will grow to $507
billion. The
Internet economy has become larger than the airline industry and is poised to
surpass the
publishing industry. The $200 billion in increased revenue generated by the
Internet over last
year is responsible for much of the expected $340 billion growth of the U.S. gross domestic
product this year. Sara Nathan, "Internet economy soars 68%"
USA Today, October 27, 1999, A1 (http://www.usatoday.com)
