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Federal report shows Internet economic boost

Published on .

Washington--A new report issued by the U.S. Department of Commerce, "The Emerging Digital Economy II," offers insight into the impact that the Internet and other information technology has had on the economy. Between 1995 and 1998, IT producers accounted for about 8% of the U.S. gross domestic product, according to the report. Over the same period, IT contributed to 35% of the nation's economic growth. The report also credits falling prices in the high-tech world for keeping inflation under control in a period of "historically low unemployment." The full report can be viewed at www.ecommerce.gov.
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