Internet Is 6% of US GDP, IA Says

Internet sector businesses now make up 6 percent of the U.S. Gross Domestic Product, meaning it's now “rivaling the auto industry in size,” the Internet Association reported Thursday. “The internet beats out powerhouse sectors like construction, the federal government, as well as many others, and it is growing at a far faster rate. It is now, indisputably, a discrete section of the American economy.” IA said it analyzed a range of economic studies and methodologies, which all point to the internet being a “major economic sector” and one that's “growing rapidly” as a contributor to GDP. IA said it estimates internet companies could become 7 percent of the U.S. GDP by 2020.