Economy

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 …

California’s labor market withstood COVID-19 better than first believed, according to data released this month. A lot better, in fact. Originally, job growth in the state between December 2020 and December 2021 was believed to have increased by 6.5 percent compared with the previous.12 months, according to Beacon Economics in …

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 …

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 …

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 …

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, …