Study: Sporting goods sales up 4% in '07

PORT WASHINGTON, N.Y. Worldwide sales of sports equipment, apparel, and footwear increased a healthy 4% to $278.4 billion in 2007 according to a new report from The NPD Group.

According to the report the Unites States' share of the market decreased from 40% to 36% mostly due to weakness in the dollar. Conversely, Europe increased its market share based on the strength of the Euro and in spite of slow sales growth in Europe, which were up 2%. 

Despite its slowing economy, the United States posted the highest growth rate among the top six developed countries, showing a 3% gain in the sports market.