New York - Despite concerns about the recession and a cyclical slowdown, the video game industry continues to grow in 2008. Monthly video game sales statistics from the NPD Group show that video game industry sales were up 34 percent to $1.3 billion, year over year, according to VentureBeat.

Hardware was up 19 percent, in spite of recent price cuts. Software was up 47 percent and accessories were up 36 percent. Year to date, the industry was up 26 percent.

The NPD data also shows that Sony PlayStation 3’s resurgence is continually strong and it beat out Microsoft’s Xbox 360 for the second month in a row in unit sales. The Nintendo Wii is still on top with sales of 432,000 consoles in February in the U.S., while the PS 3 sold 280,800 units and the Xbox 360 came in third with 254,600 units sold.

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