It's a far cry from the very recent past when every study of the economy, industry and consumer attitudes showed that the only way to go was the internet.

This week, Amarach, the consultancy which was at the forefront of the technology wave issued a survey which contended that almost half of the adult Irish population had no interest in going online.

More damaging still were the reasons given for this disinterest. Respondents said they did not find the medium relevant or interesting - criticism more damning to many in the new economy than "unprofitable".

Of course, profitability is now the watchword in the new economy as those left afloat following the dot.com crash discover a new pragmatism. The survey will give them little cause for cheer. Amarach has slashed its estimate for the value of the e-commerce market in 2003 to €260 million, less than a quarter of the €1.1 billion it had forecast only last year.

No wonder the rush by everyone to establish an online presence has slowed with even recognised internet ventures now eschewing the dot.com tag.