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Economy

Industrial market posts negative absorption

CVB Financial reports earnings drop

The Inland Empire’s industrial market recorded 2.7 percent negative absorption in the second quarter, the first negative posting in that category since the fourth quarter of 2008, according to CBRE. Activity remained strong on the east side, where 2,093,363 square feet of space went online, according to CBRE. However, on …

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IE manufacturing shows slight improvement

Inland Empire’s manufacturing in June took another step toward returning to growth mode. The region’s purchasing managers index last month was 52.1, the second consecutive month that number was 50 or above, according to the Institute of Applied Research and Policy Analysis at Cal State San Bernardino. If that number …

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State adds 67,000 jobs

hiring prospects

California added 67,000 non-agricultural jobs in April, enough to account for about one-fourth of the jobs created nationwide that month, according to data released Friday. Despite that increase, the state’s unemployment rate was up slightly month-over-month, from 4.4 percent in March to 4.5 percent, the state Employment Development Department reported. …

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IE office market starts 2023 on right foot

UofR Giving Day declared a success

The Inland Empire office market enjoyed a solid first quarter, with vacancy, net absorption, and lease rates all moving in the desired direction, according to data released today. The region’s vacancy rate during the first three months of 2023 was nine percent, down from a revised 9.4 percent in the …

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Report: U.S. retail will have a solid 2023

National Retail Federation predicts solid sales growth

U.S. retail sales are expected to grow four to six percent this year, with total sales expected to reach $5.1 trillion, according to the National Retail Federation. That forecast compares with seven percent growth and $4.9 trillion in sales in 2022, the Washington, D.C.-based trade association reported recently. “While we …

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