Econowatch L.A. County.

ECONOWATCH
L.A. COUNTYGENERAL

GENERAL                                 Latest      Previous
INDICATORS                              period      period

Employment (000's) (July) (1)             4,634.8     4,630.2
Unemployment (000's) (July) (1)             247.3       226.2
Help-wanted ads index (June)                    8           7
Jobless-to-job ad ratio (June) (2)           28.3        31.1
Film Production Days (2nd qtr.)              7853        9278

Bankruptcies

Chapter 7 (July)                              523         519
Chapter 11 (July)                               3           9
Exports (mils.) (June)                   $7,716.4    $7,519.5
Imports (mils.) (June)                  $20,700.3   $19,412.1

Air cargo (5)
  LAX (July)                                173.4       178.5
  Burbank (June)                              8.1         9.8
Container volumes (6)(000's)
  Long Beach (July)                         582.9         617
  Los Angeles (July)                        761.3       726.9
Los Angeles CPI (July)                      211.4       211.1

Electricity Accounts (000's) (8)

Residential (July)                        1,243.1     1,241.4
Commercial (July)                           178.1       182.5
Industrial (July)                            13.8        13.9

                                          Latest    Previous
REAL ESTATE                               period      period

Construction lending (mils.) (July)        $479.0      $823.0
Property acquisition lending             $5,454.3    $6,630.7
  (mils.) (9) (July)
Refinance lending (mils.) (July) (10)   $11,958.2   $14,451.8

Foreclosures
  Number (July)                               168         128
  Value (mils.) (July)                      $68.9       $46.1
Building contracts (mils.)
  Residential (July)                       $296.8      $541.0
  Nonresidential (July)                    $461.1      $479.3
Building permits (mils.)
  Residential (July)                       $492.6      $664.0
  Nonresidential (July)                    $240.5      $305.9
Housing start permits (July)                1,616       2,650
Home sales (Aug.)                           8,246       6,146
Home prices (000's) (Aug.)                 $550.0      $550.0
Condo sales (Aug.)                           1933        1465
Condo prices (000'x) (Aug.)                $415.0      $420.0
Apartments (2nd qtr.)
  Gross occupancy                            95.7%       97.5%
  Avg. sq. ft. rent                          $1.8        $1.7
  Avg. monthly rent                      $1,559.0    $1,420.0
Office vacancy rates (2nd qtr.)
  Downtown L.A.                              14.0%       15.0%
  San Fernando Valley                         6.1           7
  West L.A                                    7.3         9.4
  South Bay                                    16        16.1
  Countywide                                 10.2          11
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                           1.3%        1.4%
  South Bay                                   2.2         2.5
  San Gabriel Valley                          1.5         1.9

                                          Latest    Previous
TOURISM                                    month       month

Hotel occupancy rate (June)                 81.1%        79.2%
Room rate (June)                          $142.85      $151.63
Passengers
  LAX (000's) (July)                      5,919.7      5,510.0
  Burbank Airport (000's) (June)            501.4        485.9

                                        %-from
GENERAL                                 previous   Year
INDICATORS                              period     ago

Employment (000's) (July) (1)               +0.1     4,560.0
Unemployment (000's) (July) (1)             +9.3       272.7
Help-wanted ads index (June)               +14.3          14
Jobless-to-job ad ratio (June) (2)          -9.0        18.3
Film Production Days (2nd qtr.)            -15.4       8,426

Bankruptcies

Chapter 7 (July)                            +0.8       2,097
Chapter 11 (July)                          -66.7           3
Exports (mils.) (June)                      +2.6    $6,597.2
Imports (mils.) (June)                      +6.6   $18,567.8

Air cargo (5)
  LAX (July)                                -2.9       190.3
  Burbank (June)                           -17.3         9.4
Container volumes (6)(000's)
  Long Beach (July)                         -5.5       573.3
  Los Angeles (July)                        +4.7       648.4
Los Angeles CPI (July)                      +0.0       201.4

Electricity Accounts (000's) (8)

Residential (July)                          +0.1     1,238.0
Commercial (July)                           -2.4       177.8
Industrial (July)                           -0.7        14.1

                                        % + from
                                        previous       Year
REAL ESTATE                              period         ago

Construction lending (mils.) (July)        -41.8      $701.0
Property acquisition lending               -17.7    $6,705.9
  (mils.) (9) (July)
Refinance lending (mils.) (July) (10)      -17.3   $14,589.3

Foreclosures
  Number (July)                            +31.3          60
  Value (mils.) (July)                     +49.5       $26.1
Building contracts (mils.)
  Residential (July)                       -45.1      $394.9
  Nonresidential (July)                     -3.8      $385.0
Building permits (mils.)
  Residential (July)                       -25.8      $521.2
  Nonresidential (July)                    -21.4      $250.2
Housing start permits (July)               -39.0       2,043
Home sales (Aug.)                          +34.2      12,107
Home prices (000's) (Aug.)                  +0.0      $520.0
Condo sales (Aug.)                         +31.9        2768
Condo prices (000'x) (Aug.)                 -1.2      $400.0
Apartments (2nd qtr.)
  Gross occupancy                            NA        95.5%
  Avg. sq. ft. rent                         +6.5        $1.7
  Avg. monthly rent                         +9.8    $1,457.0
Office vacancy rates (2nd qtr.)
  Downtown L.A.                              NA        15.9%
  San Fernando Valley                        NA          8.1
  West L.A                                   NA         16.4
  South Bay                                  NA         20.1
  Countywide                                 NA         12.9
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                           NA         1.0%
  South Bay                                  NA          2.2
  San Gabriel Valley                         NA          1.2

                                        % + from
                                        previous       Year
TOURISM                                   month         ago

Hotel occupancy rate (June)                  NA        78.9%
Room rate (June)                            -5.8     $127.94
Passengers
  LAX (000's) (July)                        +7.4     5,997.3
  Burbank Airport (000's) (June)            +3.2       477.6

GENERAL                                 %+from
INDICATORS                              year ago

Employment (000's) (July) (1)               +1.6
Unemployment (000's) (July) (1)             -9.3
Help-wanted ads index (June)               -42.9
Jobless-to-job ad ratio (June) (2)         +54.6
Film Production Days (2nd qtr.)             -6.8

Bankruptcies

Chapter 7 (July)                           -75.1
Chapter 11 (July)                           +0.0
Exports (mils.) (June)                     +17.0
Imports (mils.) (June)                     +11.5

Air cargo (5)
  LAX (July)                                -8.9
  Burbank (June)                           -13.8
Container volumes (6)(000's)
  Long Beach (July)                         +1.8
  Los Angeles (July)                       +17.4
Los Angeles CPI (July)                      +5.0

Electricity Accounts (000's) (8)

Residential (July)                          +0.4
Commercial (July)                           +0.2
Industrial (July)                           -2.1

                                        %+ from
REAL ESTATE                             year ago

Construction lending (mils.) (July)        -31.7
Property acquisition lending               -18.7
  (mils.) (9) (July)
Refinance lending (mils.) (July) (10)      -18.0

Foreclosures
  Number (July)                           +180.0
  Value (mils.) (July)                    +164.0
Building contracts (mils.)
  Residential (July)                       -24.8
  Nonresidential (July)                    +19.8
Building permits (mils.)
  Residential (July)                        -5.5
  Nonresidential (July)                     -3.9
Housing start permits (July)               -20.9
Home sales (Aug.)                          -31.9
Home prices (000's) (Aug.)                  +5.8
Condo sales (Aug.)                         -30.2
Condo prices (000'x) (Aug.)                 +3.8
Apartments (2nd qtr.)
  Gross occupancy                            NA
  Avg. sq. ft. rent                         +4.0
  Avg. monthly rent                         +7.0
Office vacancy rates (2nd qtr.)
  Downtown L.A.                              NA
  San Fernando Valley                        NA
  West L.A                                   NA
  South Bay                                  NA
  Countywide                                 NA
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                           NA
  South Bay                                  NA
  San Gabriel Valley                         NA

                                        %+ from
TOURISM                                 year ago

Hotel occupancy rate (June)                  NA
Room rate (June)                           +11.7
Passengers
  LAX (000's) (July)                        -1.3
  Burbank Airport (000's) (June)            +5.0

FOOTNOTES

(1.) Not seasonally adjusted.

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

(3.) Music, television, film and commercials quarterly.

(4.) Through Los Angeles Customs District.

(5.) In thousands of tons.

(6.) 20-foot equivalent unit.

(7.) 1982-1984=100.

(8.) Metropolitan LA and San Fernando Valley

(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); MIPF Research Inc.
(apartments); Grubb & Ellis (office and industrial vacancy rates); PKF
Consulting (hotel occupancy rate, room rate).

--Jade Takahashi