Considering the economic meltdown of the past few weeks, the fact that online ad revenues grew 11 percent in Q3 would seem to be reason to celebrate. But comparing the latest figures from the Interactive Advertising Bureau to its Q307 report shows how much growth has slowed. While online ad spending approached $5.9 billion this past quarter, in Q307, when the IAB said revenues hit $5.2 billion, it had gained 25.3 percent over the prior year. Although online ad dollars had already been slowing last year consider the difference from Q306, when web-based advertising was up 33 percent.

SEE ALSO: Slowdown Shows In H108: Online Ad Spend Gained 15.2 Percent; Q2 Up 12.8 Percent: IAB

Flat revenues: Compared to the other two quarters this year, online ad spending is dead flat, said the report, which the IAB partnered with PriceWaterhouseCoopers on. For example, in Q2, online ad dollars climbed 12.8 percent. Looking at the first nine months of the year at least, revenues totaled $17.3 billion, up from $15.2 billion in the same period a year ago, for a 13.8 percent gain. Again, for the sake of perspective, in Q307, the IAB reported that the first nine months of the year grew 26 percent year-over-year.

Click to enlarge: