Reston, Va. - Online spending in October grew by just 1% over the previous year, the lowest monthly growth rate since measurement firm comScore began tracking e-commerce in 2001.

The firm said that the trend was most pronounced among households earning less than $50,000, whose spending decreased from 2007 levels.

"It's clear that the increase in the country's unemployment rate along with the shock of the financial market meltdown have had a negative impact on the psyche of the American consumer, and the effects were clearly felt in the online retail sector," said Gian Fulgoni., the chairman of comScore.

"October represented the softest single-month of online retail growth on record."

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