Key Economic Indicators for Tampa Bay Market (June 2009)
Every quarter, FCG Research Group produces a report on the key economic indicators in Tampa Bay. Covering unemployment, real estate, travel, automotive and retail, this report is a good way to view trends and directions in economic areas that affect all of us.
- Unemployment Rates continue to be high in the Tampa Bay market – ending the seccond quarter with an 11.1% rate.
- Home Sales are showing signs of improvement and were up 19.2% in Hillsborough County for the first six months of 2009 compared to the same period of 2008. Much of this growth has been due to tax incentives for first time home buyers and investors taking advantage of foreclosure deals.
- New Automotive Sales – as of June – were down by 38.0% in the total Tampa Bay DMA and by 40.4% in Hillsborough County. Expect to see some growth in this category in June and August due to the government’s “Cash for Clunkers” program.
- Taxable Retail Sales (for the 1st quarter, 2009 – most current available) were down by -16.2% in the total Tampa Bay market and by -16.9% in Hillsborough County compared to the same period of 2008.
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