Economy

The Inland Empire office market recorded 9.5 percent vacancy during the fourth quarter of 2023, a year-over-year increase of little more than one percent, according to data released Monday. Despite that, “the Inland Empire office market has upheld robust market fundamentals by catering to its primarily local population,” which has …

Inland Empire manufacturing gave itself some breathing room in January. The region’s purchasing managers index was 54.8 last month, a substantial improvement from the 49.6 index recorded in December, according to data released Feb. 1. More important, January ended three consecutive months of indexes below 50, the Institute of Applied …

Valentine’s Day spending is expected to reach $25.8 billion this year, including $14.2 billion spent on “significant others,” according to the National Retail Federation. “Retailers are ready to help customers this Valentine’s Day with meaningful and memorable gifts,” said Matthew Shay, the federation’s president and chief executive officer, in the …

The Inland Empire industrial market continued to slow during the fourth quarter of 2023, with vacancy on the rise and leases and sales in decline. Vacancy rose a “whopping” 94 basis points in the last three months of 2023, to 4.8 percent, with total vacant space rising to 32.2 million …

The Inland Empire recorded a 5.1 percent unemployment rate in December, essentially unchanged month-over-month but well above the 3.7 percent predicted one year earlier, according to data released Friday. California’s unadjusted unemployment rate during the last month of 2023 was 5.1 percent, while the national rate was 3.7 percent, the …

U.S. retail sales during the 2023 holiday season grew 3.8 percent compared with 2022, according to the U.S. Census Bureau. Despite inflation and higher interest rates, sales in November and December totaled $964.4 billion, a record that easily surpassed the $929.5 billion in sales recorded the year prior, the census …