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Consumer Reports

The American economy in dire straights? Not online! | (UPI) -- Online economic activity outperformed total U.S. economic activity in three of four major economic sectors between 2000 and 2001.

Too bad some people kept on talking.

According to the Bureau of the Census, retail sales online grew 22 percent while total retail sales grew only 3 percent.

Online sales by merchant wholesalers grew 12 percent while their total sales actually declined 1 percent.

The agency's report noted although business-to-consumer activity is the focus of much public attention, 93 percent of e-commerce is business-to-business. The travel reservation industry generated nearly one-fourth of its total revenue online during 2001.

In the services sector, the securities and brokerage industries saw a 37 percent decline or $2 billion, while total revenues fell 13 percent or $37 billion. Information sector service industries experienced strong growth in e-revenues, which grew 12 percent or $1 billion, while total revenues rose 3 percent or $24 billion.

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