Video-game industry up 18% in October: Growth slowing

As the news that auto sales have been declining, the video-game industry is still doing very well. The industry has gone up by 18% in October, which does look good for the start of the Holiday Season. The growth in sales was a result of strong console sales, but handheld sales have fallen.

According to the NPD Group, the video-game industry increased to $2.2 billion in the month of October, the industry looks to hit $22 billion for the fiscal year. Although this is good news, it seems that the growth of the video-game industry has started to slow compared to recent times.

Sales of video games were up 18 percent in October 2008, compared to the same period last year. The year-to-year increase in September was 26%, showing a slowdown. The reason why consoles have been selling well is due to the Xbox 360 having a huge price cut, as well as huge game title coming out for both the Xbox 360 and the Sony PS3.

Read full article