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Non-Tech : Binary Hodgepodge
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To: ~digs who wrote (586)5/23/2003 4:33:38 PM
From: ~digs  Read Replies (1) of 6763
 
US e-commerce sales rose in Q1 from year ago




Friday May 23, 10:07 AM EDT

WASHINGTON, May 23 (Reuters) - U.S. retail sales over the Internet grew by 25.9 percent in the first quarter of 2003 compared to the same quarter a year earlier, rising to $11.9 billion, the Commerce Department said on Friday.

The gain was the smallest year-over-year increase since the 23.5 percent gain in the second quarter of 2002, Commerce said in its quarterly report on sales of goods and services over the Internet or other electronic networks or by e-mail. Payment does not have to be made online for the transaction to be counted.

Unlike most economic indicators released by Commerce, the data are not adjusted for seasonal or holiday-related variations, a limitation that sharply restricts their usefulness to analysts. Commerce began separately tracking e-commerce sales in late 1999.

In comparison to the fourth quarter, sales dropped 13.4 percent in the first three months of 2003. Overall retail sales fell 10.7 percent compared to the fourth quarter, which is typically boosted by holiday season shopping. That brought e-commerce sales as a percentage of overall sales to 1.5 percent, down from a still miniscule 1.6 percent of total retail purchases in the fourth quarter last year.

finance.myway.com
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