Internet Sector Contributes $2.1 Trillion To US Economy, Industry Group Says

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Internet Sector Contributes $2.1 Trillion To US Economy, Industry Group Says


Businesses

The Internet

The Almighty Buck

United States

Internet Sector Contributes $2.1 Trillion To US Economy, Industry Group Says (reuters.com)






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msmash

from the closer-look dept.

The rapidly growing internet sector accounted for $2.1 trillion of the U.S. economy in 2018, or about 10% of the nation’s gross domestic product (GDP), an industry group said on Thursday. From a report: The Internet Association, a group representing Amazon.com, Facebook, Alphabet, Twitter, Uber and many other firms, released its estimate as the tech sector has come under increasing criticism, with some lawmakers calling for the breakup of major firms and renewed antitrust scrutiny. The study says the internet sector represents the fourth largest sector of the U.S. economy, behind real estate, government and manufacturing. Last year, manufacturing accounted for about $2.3 trillion in U.S.

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