Economy

U.S. retail sales rose sharply in May, increasing both month-over-month and year-over-year, the National Retail Federation reported. Total sales, not counting gasoline and automobiles, were up 1.35 percent from April and three percent from May 2023, the federation reported. The April-to-May data was adjusted for seasonal factors that typically impact …

The Inland Empire manufacturing sector recorded it fourth consecutive month of growth in May, according to data released June 3. The region’s purchasing managers index for the fifth month of the year was 51.1, a sign that manufacturing and the economy in Riverside and San Bernardino counties were growing, according …

Third-party logistics companies are dominating one sector of the Inland Empire industrial market. Those companies, which businesses hire to handle their supply chain responsibilities, account for nearly 60 percent of all “big-box” transactions in Riverside and San Bernardino counties, according to a report by CBRE. No other U.S. industrial market …

Sales of existing single-family homes in California totaled 275,540 in April, up three percent from March and 4.4 percent year-over-year, according to a report. Statewide, the median price of a home during the fourth month of the year was $904,210, a 5.8 percent from March and an 11.4 percent increase …

The Inland Empire recorded a 4.8 percent unemployment rate in April, down from a revised 5.1 percent in March, according to a report. Employers in Riverside and San Bernardino counties added 2,500 non-agricultural jobs last month, with government accounting for 1,500 of those, the state Employment Development Department reported. The …

Riverside had one of the country’s largest year-over-year increases in investor home sales – 2.4 percent – during the first quarter of this year, according to a recent report. Among major metropolitan markets, that number was surpassed only by Oakland, where investors bought nearly 17 percent of all the homes …