Econowatch L.A. County.

ECONOWATCH
L.A. COUNTY

GENERAL                                    Latest      Previous
INDICATORS                                 period        period

Employment (000's) (Mar.) (1)               4,484         4,491
Unemployment (000's) (Mar.) (1)               291           300
Help-wanted ads index (Mar.)                   16            14
Jobless-to-job ad ratio (Mar.) (2)             18          21.4
Film Production Days (Feb.) (3)             2,977         2,415

Bankruptcies
Chapter 7 (Apr.)                            3,077         3,384
Chapter 11 (Apr.)                              15            14
Exports (mils.) (Feb.)                   $5,648.3      $5,330.7
Imports (mils.) (Feb.)                  $12,268.1       $14,225
Air cargo (5)
 LAX (Mar.)                                 185.4           156
 Burbank (Mar.)                               4.6             4
Container volume (6) (000's)
 Long Beach (Mar.)                          448.4         314.7
 Los Angeles (Mar.)                         611.6         482.4
Los Angeles CPI (Feb.)                      190.1         188.5
Electricity Accounts (000's) (8)
 Residential (Apr.)                       1,229.6       1,229.5
 Commercial (Apr.)                            121         120.5
 Industrial (Apr.)                           14.8          14.8

                                         % - from
GENERAL                                  previous          Year
INDICATORS                                 period           ago

Employment (000's) (Mar.) (1)                -.2%         4,486
Unemployment (000's) (Mar.) (1)                -3           318
Help-wanted ads index (Mar.)                +14.3            17
Jobless-to-job ad ratio (Mar.) (2)          -14.3            17
Film Production Days (Feb.) (3)             +23.3         2,452

Bankruptcies
Chapter 7 (Apr.)                             -9.1         3,595
Chapter 11 (Apr.)                            +7.1            14
Exports (mils.) (Feb.)                         +6      $4,871.5
Imports (mils.) (Feb.)                      -13.8     $11,386.2
Air cargo (5)
 LAX (Mar.)                                 +18.8         177.2
 Burbank (Mar.)                               +15           3.9
Container volume (6) (000's)
 Long Beach (Mar.)                          +42.5         356.5
 Los Angeles (Mar.)                         +26.8         563.6
Los Angeles CPI (Feb.)                        +.8         186.5
Electricity Accounts (000's) (8)
 Residential (Apr.)                             0       1,221.4
 Commercial (Apr.)                            +.4           120
 Industrial (Apr.)                              0            15

GENERAL                                  % + from
INDICATORS                               year ago

Employment (000's) (Mar.) (1)               -.04%
Unemployment (000's) (Mar.) (1)              -8.5
Help-wanted ads index (Mar.)                 -8.5
Jobless-to-job ad ratio (Mar.) (2)           +5.9
Film Production Days (Feb.) (3)             +21.4

Bankruptcies
Chapter 7 (Apr.)                            -14.4
Chapter 11 (Apr.)                            +7.1
Exports (mils.) (Feb.)                      +15.9
Imports (mils.) (Feb.)                       +7.8
Air cargo (5)
 LAX (Mar.)                                  +4.6
 Burbank (Mar.)                             +17.9
Container volume (6) (000's)
 Long Beach (Mar.)                          +25.8
 Los Angeles (Mar.)                          +8.5
Los Angeles CPI (Feb.)                       +1.9
Electricity Accounts (000's) (8)
 Residential (Apr.)                           +.7
 Commercial (Apr.)                            +.8
 Industrial (Apr.)                           -1.3

                                           Latest      Previous
REAL ESTATE                                period        period

Construction lending (mils.) (Mar.)        $590.8        $447.5
Property acquisition lending
(mils.) (9) (Mar.)                       $4,902.1     $3,521.18
Refinance lending (mils.) (Mar.) (10)   $12,249.4      $9,318.7
Foreclosures
 Number (Mar.)                                113           134
 Value (mils.) (Mar.)                       $40.6         $34.6
Building contracts (mils.)
 Residential (Mar.)                        $354.7        $263.2
 Nonresidential Mar.)                      $318.2        $283.2
Building permits (mils.)#
 Residential (Apr.)#                      $484.2#       $570.3#
 Nonresidential (Apr.)#                   $280.9#       $266.8#
Housing start permits (Apr.)#              1,680#        2,163#
Home sales (Mar.)                           6,721         6,014
Home prices (000's) (Mar.)                   $383          $360
Condo sales (Mar.)                          1,969         1,940
Condo prices (000's) (Mar.)                  $324          $300
Apartments (1st qtr.)
 Gross occupancy                            96.2%         96.7%
 Avg. sq. ft. rent                          $1.52         $1.49
 Avg. monthly rent                         $1,271        $1,259
Office vacancy rates (1st qtr.)
 Downtown L.A.                              19.8%         19.6%
 San Fernando Valley                         11.5          12.8
 West L.A.                                   17.0          17.0
 South Bay                                   20.0          19.6
 Countywide                                  16.1          16.2
Industrial vacancy rates (1st qtr.)
 Downtown/Central                            1.9%          1.9%
 South Bay                                    4.1           4.0
 San Gabriel Valley                           2.4           2.3

                                         % + from
REAL ESTATE                              previous          Year
                                           period           ago

Construction lending (mils.) (Mar.)           +32        $312.7
Property acquisition lending
(mils.) (9) (Mar.)                          +39.2      $3,505.4
Refinance lending (mils.) (Mar.) (10)       +31.4     $11,643.7
Foreclosures
 Number (Mar.)                              -15.7           297
 Value (mils.) (Mar.)                       -17.3         $82.2
Building contracts (mils.)
 Residential (Mar.)                         +34.8        $311.9
 Nonresidential Mar.)                       -12.4        $386.6
Building permits (mils.)#
 Residential (Apr.)#                       -15.1#       $458.2#
 Nonresidential (Apr.)#                     +5.3#         $251#
Housing start permits (Apr.)#              -22.3#        1,793#
Home sales (Mar.)                           +11.8         7,797
Home prices (000's) (Mar.)                   +6.4          $298
Condo sales (Mar.)                           +1.5         2,489
Condo prices (000's) (Mar.)                    +8          $240
Apartments (1st qtr.)#
 Gross occupancy#                             NA#        95.9%#
 Avg. sq. ft. rent#                           +2#        $1.42#
 Avg. monthly rent#                           +1#       $1,195#
Office vacancy rates (1st qtr.)
 Downtown L.A.                                 NA         19.4%
 San Fernando Valley                           NA          14.4
 West L.A.                                     NA          15.5
 South Bay                                     NA          18.3
 Countywide                                    NA          16.1
Industrial vacancy rates (1st qtr.)
 Downtown/Central                              NA          2.3%
 South Bay                                     NA           4.5
 San Gabriel Valley                            NA           2.7

                                         % + from
REAL ESTATE                              year ago

Construction lending (mils.) (Mar.)         88.9%
Property acquisition lending
(mils.) (9) (Mar.)                          +39.8
Refinance lending (mils.) (Mar.) (10)        +5.2
Foreclosures
 Number (Mar.)                                -62
 Value (mils.) (Mar.)                       -50.6
Building contracts (mils.)
 Residential (Mar.)                          +1.1
 Nonresidential Mar.)                       -17.7
Building permits (mils.)#
 Residential (Apr.)#                        +5.7#
 Nonresidential (Apr.)#                    +11.9#
Housing start permits (Apr.)#               -6.3#
Home sales (Mar.)                           +11.8
Home prices (000's) (Mar.)                  +28.5
Condo sales (Mar.)                          -20.9
Condo prices (000's) (Mar.)                   +25
Apartments (1st qtr.)#
 Gross occupancy#                             NA#
 Avg. sq. ft. rent#                           +7#
 Avg. monthly rent#                         +6.4#
Office vacancy rates (1st qtr.)
 Downtown L.A.                                 NA
 San Fernando Valley                           NA
 West L.A.                                     NA
 South Bay                                     NA
 Countywide                                    NA
Industrial vacancy rates (1st qtr.)
 Downtown/Central                              NA
 South Bay                                     NA
 San Gabriel Valley                            NA

                                           Latest      Previous
TOURISM                                     month         month

Hotel occupancy rate (Mar.)                 76.6%         78.1%
Room rate (Mar.)                          $124,21       $127.54
Passengers
 LAX (000's) (Mar.)                       4,907.1         4,226
 Burbank Airport (000's) (Mar.)             412.6         358.4

                                         % + from
                                         previous          Year
TOURISM                                     month           ago

Hotel occupancy rate (Mar.)                    NA         66.6%
Room rate (Mar.)                            -2.6%       $122.64
Passengers
 LAX (000's) (Mar.)                         +16.1         4,408
 Burbank Airport (000's) (Mar.)             +15.1         383.3

                                         % + from
TOURISM                                  year ago

Hotel occupancy rate (Mar.)                    NA
Room rate (Mar.)                              +1%
Passengers
 LAX (000's) (Mar.)                         +11.3
 Burbank Airport (000's) (Mar.)               7.6

FOOTNOTES

(1.) Not seasonally adjusted.

(2.) Thousands of jobless to index point of job ads.

(3.) Film production days

(4.) Through Los Angeles Customs District.

(5.) In thousands of tons.

(6.) 20-foot equivalent unit.

(7.) 1982-1984=100.

(8.) San Fernando Valley and metropolitan L.A. combined

(9.) Apartment and residential combined

(10.) Includes refinancings, second mortgages and equity
mortgages

(11.) Based on a survey by Grubb & Ellis Co. Excludes
available sublease space NA means not applicable

BOLDFACE INDICATES UPDATED FIGURES

Sources: California State Employment Development Department (employment
figures); The Conference Board, N.Y. (help-wanted ad index);
Entertainment Industry Development Corporation Los Angeles Film Office
(film permits); U.S. Bankruptcy Court, Central District of Calif., Los
Angeles (bankruptcies); Dun & Bradstreet (business failures); Economic
Development Corporation, Los Angeles (exports, imports); City of Los
Angeles Airport Department (LAX passenger traffic and air cargo);
Burbank-Glendale-Pasadena Airport Authority (Burbank passenger traffic
and air cargo); Bureau of Labor Statistics, Los Angeles (Los Angeles
consumer price index); Office of Economic Research at California State
University, Long Beach (index of leading indicators); First American
Real Estate Solutions, Anaheim (construction lending, property
lending, refinance lending, foreclosures, home sales, home prices,
home prices per square foot, condo sales, condo prices); F.W. Dodge
Division, McGraw-Hill (building contracts); Construction Industry
Research Board (housing start permits, building permits); IWPF
Research Inc. (apartments); Grubb & Ellis (office and industrial
vacancy rates); PKF Consulting (hotel occupancy rate, room rate).

Note: Updated figures is indicated with #.