Web sales growth slowest since ’01

Online spending for October grew at the slowest pace since at least 2001, an Internet research company said -- the latest evidence that Web shopping is being dragged down by the deteriorating economy.

According to the ComScore Inc. report, online spending increased a meager 1% last month from the year-earlier period, marking the slowest sales pace for any month since the company began tracking the data seven years ago. The results exclude business from auctions, autos and travel.