Federal Study Finds E-Commerce Makes Economy Boom
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Confirming what may seem obvious to many in the online industry, the U.S. Commerce Department released a report that shows electronic commerce is responsible for economic growth, high wage jobs, and lower inflation.
The report, entitled "The Emerging Digital Economy," looks at the growing use of electronic commerce by both businesses and consumers as well as its effects on the U.S. economy.
According to the study, information technologies have been responsible for more than one-quarter of real economic growth over the past five years.
Investments in information technology today account for more than 45% of all business equipment investment, Commerce officials said.