Whilst many industries may be suffering from a significant downturn in trade, it's amazing to say we're actually witnessing the complete reverse. Whether this is the case across the entire web world (wide), I don't know, but there doesn't seem to be anyone that's suffering (at least not anyone that's any good).
It seems as though the talk of a recession sets companies in two distinct sets:
Type 1: those that batten down the hatches and hope to ride it out; and
Type 2: the other set that see it as an opportunity - an opportunity to gain an advantage over those less brave (type 1).
But what's more, people see the web as being a major opportunity to spend their money more wisely. Not only can well build web applications save you money (because they can save you time), the right online strategy can help your business to profit from even the most recessive of economies.
It seems marketing budgets are being focused on the digital world - something I've long been an advocate of!