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National BriefingE-commerce still going strong
WASHINGTON -- Internet commerce continues its robust growth, defying a sluggish economy that's teetering on recession, Google's chief economist and several analysts said Friday.
Electronic commerce has grown about 22 percent in the last two years, said Hal Varian, the economist, who spoke at a forum on the state of the Internet economy at Google's new Washington office. Ed Garrubbo, chairman of the Electronic Retailing Association, said online sales jumped 17 percent in the first quarter of this year.
"The lesson here is that the economic slowdown is not an Internet slowdown," Varian said. "The Internet is looking pretty strong compared to other sectors." Perhaps no one can afford to drive to the stores anymore? I find goods to be cheaper online (even including the shipping cost).
