Econowatch L.A. County.

ECONOWATCH
L.A. COUNTY

GENERAL
INDICATORS                                    Latest      Previous
                                              period        period

Employment (000's) (June) (1)                  4,603         4,619
Unemployment (000's) (June) (1)                  276           267
Help-wanted ads index (June)                      14            15
Jobless-to-job ad ratio (June) (2)              19.7          17.8
Film Production Days (March)   (3)              3,34         2,854

Bankruptcies
Chapter 7 (May)                                3,644         3,590
Chapter 11 (May)                                   9             8

Exports (mils.) (May)                       $6,667.6      $6,757.4
Imports (mils.) (May)                      $17,229.8     $17,309.8
Air cargo (5)
  LAX (June)                                   180.8         170.1
  Burbank (May)                                  4.2           4.1
Container volume (6) (000's)
  Long Beach (June)                            576.6         564.9
  Los Angeles (June)                             634         610.6
Los Angeles CPI (May)                          201.5         201.1
Electricity Accounts (000's) (8)
  Residential (June)                         1,236.2       1,236.6
  Commercial (June)                            122.5         122.3
  Industrial (June)                             14.1          14.1

                                            % - from
                                            previous          Year
                                              period           ago

Employment (000's) (June) (1)                   -0.3%        4,451
Unemployment (000's) (June) (1)                 +3.4           332
Help-wanted ads index (June)                    -6.7            17
Jobless-to-job ad ratio (June) (2)             +10.7          19.5
Film Production Days (March)   (3)             +17           3,761

Bankruptcies
Chapter 7 (May)                                 -1.5         2,764
Chapter 11 (May)                               -12.5            11

Exports (mils.) (May)                           -1.3      $6,249.7
Imports (mils.) (May)                           -0.5     $15,280.5
Air cargo (5)
  LAX (June)                                    +6.3         176.6
  Burbank (May)                                 +2.4           4.2
Container volume (6) (000's)
  Long Beach (June)                             +2.1         494.1
  Los Angeles (June)                            +3.8         612.1
Los Angeles CPI (May)                           +0.2         193.3
Electricity Accounts (000's) (8)
  Residential (June)                           -0.03        1229.9
  Commercial (June)                            +0.2          121.3
  Industrial (June)                             0             14.3

                                             %+ from
                                            year ago

Employment (000's) (June) (1)                    3.4%
Unemployment (000's) (June) (1)                -16.7
Help-wanted ads index (June)                   -17.6
Jobless-to-job ad ratio (June) (2)              +1
Film Production Days (March)   (3)             -11.2

Bankruptcies
Chapter 7 (May)                                +31.8
Chapter 11 (May)                               -18.2

Exports (mils.) (May)                           +6.7
Imports (mils.) (May)                          +12.8
Air cargo (5)
  LAX (June)                                    +2.4
  Burbank (May)                                  0
Container volume (6) (000's)
  Long Beach (June)                            +16.7
  Los Angeles (June)                            +3.6
Los Angeles CPI (May)                           +4.2
Electricity Accounts (000's) (8)
  Residential (June)                            +0.5
  Commercial (June)                             +1.0
  Industrial (June)                             -1.4

REAL ESTATE                                   Latest      Previous
                                              period        period

Construction lending (mils.) (May)            $538.7        $343.8
Property acquisition lending
  (mils.) (9) (May)                         $5,889        $5,926.6
Refinance lending (mils.) (May) (10)       $10,272.5     $10,321.1
Foreclosures
  Number (May)                                    44            53
  Value (mils.) (May)                          $19.5         $20.9
Building contracts (mils.)
  Residential (March)                         $275.9        $304.5
  Nonresidential (March)                      $155.5        $200.6
Building permits (mils.)
Residential (June)                            $640.4        $529.3
Nonresidential (June)                         $375.5        $349.6
Housing start permits (June)                   2,237         1,990
Home sales (May)                               7,448         7,546
Home prices (000's) (May)                       $480          $470
Condo sales (May)                              1,982         2,122
Condo prices (000's) (May)                    $384.5          $367
Apartments (1st qtr.)
  Gross occupancy                                97%         96.8%
  Avg. sq. ft. rent                            $1.59         $1.55
  Avg. monthly rent                           $1,327        $1,300
Office vacancy rates (2nd qtr.)
  Downtown L.A                                  15.9%         17.8%
  San Fernando Valley                            7.8           7.9
  West L.A.                                     11.5          13.5
  South Bay                                     20.1          20.4
  Countywide                                    13            14
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                                1%           1.1%
  South Bay                                      2.2           2.5
  San Gabriel Valley                             1.2           1.5

                                              %+from
                                            previous          Year
                                              period           ago

Construction lending (mils.) (May)             +56.7%       $429.6
Property acquisition lending
  (mils.) (9) (May)                             -0.6        $5,046
Refinance lending (mils.) (May) (10)            -0.5     $12,655.5
Foreclosures
  Number (May)                                 -17              87
  Value (mils.) (May)                           -6.7         $25.1
Building contracts (mils.)
  Residential (March)                           -9.4        $325.7
  Nonresidential (March)                       -22.5        $333.1
Building permits (mils.)
Residential (June)                             +21          $708.5
Nonresidential (June)                           +7.4        $292.6
Housing start permits (June)                   +12.4         3,026
Home sales (May)                                -1.3         7,005
Home prices (000's) (May)                       +2.1          $420
Condo sales (May)                               -6.6         2,114
Condo prices (000's) (May)                      +4.8          $335
Apartments (1st qtr.)
  Gross occupancy                                 NA         96.2%
  Avg. sq. ft. rent                             +2.6         $1.52
  Avg. monthly rent                             +2.1        $1,271
Office vacancy rates (2nd qtr.)
  Downtown L.A                                   NA           20%
  San Fernando Valley                            NA           10
  West L.A.                                      NA           16.7
  South Bay                                      NA           19.3
  Countywide                                     NA           15.7
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                               NA            1.6%
  South Bay                                      NA            3.3
  San Gabriel Valley                             NA            1.8

                                              %+from
                                            year ago

Construction lending (mils.) (May)             +25.4%
Property acquisition lending
  (mils.) (9) (May)                            +16.7
Refinance lending (mils.) (May) (10)           -18.8
Foreclosures
  Number (May)                                 -49.4
  Value (mils.) (May)                          -22.3
Building contracts (mils.)
  Residential (March)                          -15.3
  Nonresidential (March)                       -53.3
Building permits (mils.)
Residential (June)                              -9.6
Nonresidential (June)                          +28.3
Housing start permits (June)                   -26.1
Home sales (May)                                +6.3
Home prices (000's) (May)                      +14.3
Condo sales (May)                               -6.2
Condo prices (000's) (May)                     +14.8
Apartments (1st qtr.)
  Gross occupancy                                NA
  Avg. sq. ft. rent                             +4.6
  Avg. monthly rent                             +4.4
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

TOURISM                                       Latest      Previous
                                               month         month

Hotel occupancy rate (May)                     74.8%         76.1%
Room rate (May)                              $133.67       $126.87
Passengers
  LAX (000's) (June)                         5,531.9       5,159.1
  Burbank Airport (000's) (May)                466.5         443.9

                                              %+from
                                            previous          Year
                                               month           ago

Hotel occupancy rate (May)                       NA            73%
Room rate (May)                                 +5.4       $123.44
Passengers
  LAX (000's) (June)                            +7.2       5,561.3
  Burbank Airport (000's) (May)                 +5.1         422.9

                                             %+ from
                                            year ago

Hotel occupancy rate (May)                        NA
Room rate (May)                                 +8.3
Passengers
  LAX (000's) (June)                            -0.5
  Burbank Airport (000's) (May)                +10.3

FOOTNOTES

(1.) Not seasonally adjusted.

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

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

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