*NEWS*SHARP RISE FOR E-COMMERCE SALES

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*NEWS*SHARP RISE FOR E-COMMERCE SALES

 user 2004-02-25 at 9:48:00 am Views: 92
  • #6216

    Sharp Rise for E-Commerce Sales

    WASHINGTON (Feb. 23) – Retail Sales Over the Internet and other electronic networks surged in the fourth quarter of 2003, making up a record share — almost 2 percent — of total retail sales, the Commerce Department said on Monday.

    Commerce said so-called e-commerce sales — purchases over the Internet, e-mail or other electronic networks — rose by 29.7 percent in the final three months of 2003 over the previous quarter to $17.23 billion. Overall retail sales rose 5.2 percent in the fourth quarter.

    The increase in e-commerce purchases was the third straight quarterly rise but was less than the 31.6 percent gain seen in the final quarter of 2002.

    Analysts closely watch retail sales as they make up almost 40 percent of overall personal spending, which itself comprises about two-thirds of U.S. economic activity.

    In Monday’s report, the share of total retail sales accounted for by e-commerce reached its highest level since Commerce began tracking it in 1999 — 1.9 percent, up from 1.5 percent in third quarter of 2003.

    Compared to the fourth quarter of 2002, e-commerce purchases rose by 25.1 percent in the fourth quarter of 2003, while overall retail sales gained a smaller 6.2 percent.

    The report, unlike most data compiled by the Commerce Department, is not adjusted for seasonal or holiday-related variations, sharply limiting its usefulness to analysts.

    -commerce sales up sharply in fourth quarter

    WASHINGTON (Reuters) – U.S. retail sales over the Internet and other electronic networks surged in the fourth quarter of 2003, making up a record share — almost 2 percent — of total retail sales, the Commerce Department said on Monday.

    Commerce said so-called e-commerce sales — purchases over the Internet, e-mail or other electronic networks — rose by 29.7 percent in the final three months of 2003 over the previous quarter to $17.23 billion. Overall retail sales rose 5.2 percent in the fourth quarter.

    The increase in e-commerce purchases was the third straight quarterly rise but was less than the 31.6 percent gain seen in the final quarter of 2002.

    Analysts closely watch retail sales as they make up almost 40 percent of overall personal spending, which itself comprises about two-thirds of U.S. economic activity.

    In Monday’s report, the share of total retail sales accounted for by e-commerce reached its highest level since Commerce began tracking it in 1999 — 1.9 percent, up from 1.5 percent in third quarter of 2003.

    Compared to the fourth quarter of 2002, e-commerce purchases rose by 25.1 percent in the fourth quarter of 2003, while overall retail sales gained a smaller 6.2 percent.

    The report, unlike most data compiled by the Commerce Department, is not adjusted for seasonal or holiday-related variations, sharply limiting its usefulness to analysts.