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Economy

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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IE posts modest job gain

IE unemployment stands at 5.7 percent

The Inland Empire recorded a 4.5 percent unemployment rate in February, adding 6,700 non-agricultural jobs during the month, according to data released today. That was below California’s unadjusted 4.8 percent jobless rate but above the national 3.9 percent, the state Employment Development Department reported. Total non-farm employment in the two-county …

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IE manufacturing keeps fighting

Manufacturing in Inland Empire

The Inland Empire manufacturing sector is keeping its head above water, but just barely. The region’s purchasing managers index in February was 50.8, up from 50.4 in January, according to data released this week by the Institute of Applied Research and Policy Analysis at Cal State San Bernardino. If the …

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Report: rise in home prices slows

U.S. single-family home prices grew 6.9 percent in December, the lowest rate of year-over-year growth since the summer of 2020, a report released today stated. That slowdown is being blamed primarily on high mortgage rates and general pessimism about the economy’s immediate future, according to CoreLogic in Irvine. Despite a …

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IE manufacturing perks up, for now

Manufacturing in Inland Empire

Inland Empire manufacturing has bounced back, at least for the moment. The region’s purchasing managers index was 50 in January, according to data released Feb. 2 by the Institute of Applied Research and Policy Analysis at Cal State San Bernardino. That came one month after the December index registered 47, …

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