We have a website aimed at a US audience. Our traffic (number of page
views) in April 2004 was 4.5% higher than in April 2003 - year on year
growth of 4.5%.

I'm in an argument with a colleague about it. 

One of us says "good news, we're growing by 4.5%" the other says "surely bad
news. I think the overall number of page views - driven by overall
growth in internet access and increased uptake of broadband - has
grown by way more than 4.5%, it feels like we're losing ground."

The question is - ideally answered by reference to surveys showing
year on year internet usage growth in the USA, and statistics from
other websites - which one of us is right?