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To: Road Walker who wrote (91117)	10/28/1999 9:33:00 AM
From: greenspirit	Respond to of 186894

Hi John, article...Internet economy soars 68% By Sara Nathan, USA TODAY The Internet economy grew 68% in 12 months, far outpacing the growth of the overall U.S. economy, and will top a half-trillion dollars this year, a study released Wednesday says. Related story: Dow travels tech highway Online retail sales soar, jobs rocket And in another development reflecting the rising importance of technology and the Internet, the Dow Jones industrial average announced Tuesday that it was adding four companies, three of them technology-related: Microsoft, Intel and SBC Communications. Dropped from the 30-stock indicator were aging titans Chevron, Goodyear, Sears Roebuck and Union Carbide. "The Internet waits for no one, no company, no country, so if you don't keep up the pace you will quickly be overtaken," says John Chambers, CEO of Cisco Systems, which sponsored the Net economy study. Jobs connected to the Internet increased 46% to 2.3 million from 1.6 million last year, according to the University of Texas study. The Internet economy as measured by the UT study includes computer hardware and software makers; online retailers and brokers; Web portals such as Yahoo; and other Web-related businesses. One-third of the businesses surveyed for the study did not exist before 1996. Revenue from the Internet economy in the first quarter was $108 billion, up from $64 billion in first quarter of 1998. For the year, the study estimates that Internet revenue will grow to $507 billion. The Internet's growth is astounding compared with the U.S. economy's nominal 6% growth rate for the period. 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 fueling much of the expected $340 billion growth in the U.S. gross domestic product this year, the study says. The UT study will be posted on the Web at www.internet-indicators.com Wednesday. [The site was not active at the time of this posting]. -