Econowatch L.A. County.

ECONOWATCH L.A. COUNTY

GENERAL INDICATORS

                                                    Latest    Previous
                                                    period      period

Employment (000's) (June) (1) *                      4,670       4,666
Unemployment (000's) (June) (1) *                    241.1       216.8
Film Production Days (2nd qtr.) (2) *               13,768      14,678
Bankruptcies
Chapter 7 (May)                                      773.0       946.0
Chapter 11 (May)                                      11.0        11.0
Trade (3)
Exports (mils.) (May)                             $8,295.2    $7,901.1
Imports (mils.) (May)                            $19,650.1   $19,944.6
Air cargo (4)
  LAX (May)                                          165.9       162.0
  Burbank (April)                                      9.1         9.7
Container volume (5) (000's)
  Long Beach (June) *                                662.2       606.3
  Los Angeles (June) *                               716.2       681.5
Los Angeles CPI (May)                                218.6       217.8
Electricity Accounts (000's) (6)
  Residential (June)                               1,247.0     1,247.6
  Commercial (June)                                  181.0       177.6
  Industrial (June)                                   13.6        13.5

                                                 % - from
                                                 previous        Year
                                                   period         ago

Employment (000's) (June) (1) *                      +0.1       4,607
Unemployment (000's) (June) (1) *                   +11.2       226.5
Film Production Days (2nd qtr.) (2) *                -6.2      12,993
Bankruptcies
Chapter 7 (May)                                     -18.3       533.8
Chapter 11 (May)                                        0        10.0
Trade (3)
Exports (mils.) (May)                                +5.0    $7,519.5
Imports (mils.) (May)                                -1.5   $19,412.1
Air cargo (4)
  LAX (May)                                          +2.4       168.5
  Burbank (April)                                    -6.2         9.7
Container volume (5) (000's)
  Long Beach (June) *                                +9.2       617.0
  Los Angeles (June) *                               +5.1       797.0
Los Angeles CPI (May)                                +0.4       212.4
Electricity Accounts (000's) (6)
  Residential (June)                                -0.04     1,241.4
  Commercial (June)                                  +1.9       182.4
  Industrial (June)                                  +0.7        13.9

REAL ESTATE

                                                    Latest    Previous
                                                    period      period

Construction lending (mils.) (May)                  $683.5      $624.2
Property acquisition lending (mils.) (7) (May)    $4,183.8    $3,903.2
Refinance lending (mils.) (May) (8)              $11,026.7   $10,213.2
Foreclosures
  Number (May)                                       883.0      1352.0
  Value (mils.) (May)                               $362.5      $435.8
Building contracts (May)
  Residential (May)                                 $403.0      $388.4
  Nonresidential (May)                              $500.5      $398.9
Building permits (mils.)
  Residential (May)                                 $693.1      $530.2
  Nonresidential (May)                              $371.8      $341.4
Housing start permits (May)                          2,130       1,839
Home sales (June) *                                  4,614       5,666
Home prices (000'x) (June) *                        $575.0      $585.0
Condo sales (June) *                                 1,307       1,686
Condo prices (000's) (June) *                       $440.0      $440.0
Apartments (2nd qtr.)
  Gross occupancy                                    95.6%       95.9%
  Avg. sq. ft. rent                                  $1.94       $1.90
  Avg. monthly rent                               $1,660.0    $1,642.0
Office vacancy rates (2nd qtr.)
  Downtown L.A.                                      13.5%       14.0%
  San Fernando Valley                                  6.0         5.6
  West L.A.                                            8.6         8.4
  South Bay                                           13.2        12.8
  Countywide                                           9.5         9.5
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                                    1.0%        1.2%
  South Bay                                            2.1         1.8
  San Gabriel Valley                                   1.6         1.8

                                                 % - from
                                                 previous        Year
                                                   period         ago

Construction lending (mils.) (May)                   +9.5      $659.3
Property acquisition lending (mils.) (7) (May)       +7.2    $5,737.2
Refinance lending (mils.) (May) (8)                  +8.0   $10,450.4
Foreclosures
  Number (May)                                      -34.7       104.0
  Value (mils.) (May)                               -16.8       $47.4
Building contracts (May)
  Residential (May)                                  +3.8      $568.6
  Nonresidential (May)                              +25.5      $871.1
Building permits (mils.)
  Residential (May)                                 +30.7      $542.6
  Nonresidential (May)                               +8.9      $338.6
Housing start permits (May)                         +15.8       1,752
Home sales (June) *                                 -18.6       7,019
Home prices (000'x) (June) *                         -1.7      $555.0
Condo sales (June) *                                -22.5       1,840
Condo prices (000's) (June) *                           0      $422.0
Apartments (2nd qtr.)
  Gross occupancy                                     NA        95.7%
  Avg. sq. ft. rent                                  +2.1       $1.85
  Avg. monthly rent                                  +1.1    $1,558.0
Office vacancy rates (2nd qtr.)
  Downtown L.A.                                       NA        14.0%
  San Fernando Valley                                 NA          6.1
  West L.A.                                           NA          7.3
  South Bay                                           NA         16.0
  Countywide                                          NA         10.2
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                                    NA         1.3%
  South Bay                                           NA          2.2
  San Gabriel Valley                                  NA          1.5

TOURISM

                                                    Latest    Previous
                                                    period      period

Hotel occupancy rate (May)                          77.64%       76.1%
Room rate (May)                                    $156.89     $159.45
Passengers
  LAX (000's) (June) *                             5,583.1     5,258.4
  Burbank Airport (000's) (May) *                    514.5       488.1

                                                 % - from
                                                 previous        Year
                                                   period         ago

Hotel occupancy rate (May)                            NA       78.85%
Room rate (May)                                      -1.6     $153.56
Passengers
  LAX (000's) (June) *                               +6.2     5,510.0
  Burbank Airport (000's) (May) *                    +5.4       485.9

FOOTNOTES

(1.) Not seasonally adjusted.

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

(3.) Through Los Angeles Customs District.

(4.) In thousands of tons.

(5.) 20-foot equivalent unit.

(6.) Metropolitan L.A. and San Fernando Valley

(7.) Apartment and residential combined

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

* 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).