Troy, N.Y. Austin, Texas, is the most likely metro area to experience retail growth for the rest of 2009 and into 2010, according to a ranking by Pitney Bowes Insights, a division of Pitney Bowes Software.
The state of Texas claimed four of the Top 5 slots in the ranking, which lists the Top 10 U.S. metropolitan areas Pitney Bowes expects to experience quarterly retail sales growth for the remainder of 2009 and into the next year. Here is the ranking:
1) Austin, Texas: Regarded as a cultural and economic center, Austin shows consistent healthy growth in gross metropolitan product, personal disposable income and consumer expenditures, ranking the metro area in the Top 5 for all four retail sectors.
2) Baltimore: This metro area’s higher-than-average projected growth in the mid-tier and high-end retail sectors are driven by the projected rebound in gross metro product and employment in 2010.
3) Houston: The largest city in Texas, Houston shows strong comparative sales growth in the mid-tier and high-end retail sectors.
4) Dallas: Buoyed by the growth of disposable income in 2010, increased housing construction and an increase in gross metro product by the second half of 2010, this economic center ranks in the Top 10 for comparable sales growth for the drug store and value retail categories.
5) San Antonio: Sustained by higher-than-average growth in gross metro product heading into 2010, San Antonio is expected to be a top market in the drug store and value retail sectors.
6) Washington, D.C.: Like its neighbor Baltimore, this market is projected to experience an increase in employment in 2010 and continued modest gross metro product growth, leading the way in the value and drug store retail sectors.
7) Seattle: With one of the highest projected increases in gross metro product in the nation, this market shows evidence of renewed growth in the value retail sector.
8) Kansas City: Predicted GDP growth and continued strength in disposable income puts this metro area in the Top 10 for the drug, value and mid-tier retail sectors.
9) Providence, R.I. This northeastern market is projected to have above average GDP growth for 2009 and favorable growth into 2010, ranking it in the Top 10 for mid-tier and high-end retail.
10) Columbus, Ohio: Fueled by expected growth in the housing market and moderate gross metro product growth, this market is expected to experience growth in the mid-tier retail sector.
Source: Pitney Bowes