Econowatch L.A. County.

ECONOWATCH L.A. COUNTY

                                                             % - from
GENERAL                          Latest       Previous       previous
INDICATORS                       period        period         period

Employment (000's)                4,608.6       4,568.2         +0.9
  (Sept.) (1)
Unemployment (000's)                232.9         243.2         -4.2
  (Sept.) (1)
Help-wanted ads index (June)            8             7        +14.3
Jobless-to-job ad ratio              28.3          31.1         -9.0
  (June) (2)

Film Production Days                9,930         7,853        +26.4
  (3rd qtr.)
Bankruptcies
Chapter 7 (Aug.)                      586           523        +12.0
Chapter 11 (Aug.)                       9             3       +200
Exports (mils.) (July)           $7,716.4      $7,519.5         +2.6
Imports (mils.) (July)          $20,700.3     $19,412.1         +6.6
Air cargo (5)
  LAX (Aug.)                        179.3         173.4         +3.4
  Burbank (Aug.)                     10.2           7.2        +41.7
Container volume (6) (000's)
  Long Beach (Sept.)                614.7         675.1         -8.9
  Los Angeles (Aug.) *              791.6 *       790.7 *       +0.1 *
Los Angeles CPI (Aug.)              211.9         211.4         +0.2
Electricity Accounts
    (000's) (8)
  Residential (Aug.) *            1,237.8 *     1,243.1 *       -0.4 *
  Commercial (Aug.) *               181.5 *       178.1 *       +1.9 *
  Industrial (Aug.) *                13.8 *        13.8 *        0.0 *

                                                             % + from
                                 Latest       Previous       previous
REAL ESTATE                      period        period         period

Construction                       $479.0        $823.0        -41.8
  lending (mils.) (July)
Property acquisition             $5,454.3      $6,630.7        -17.7
  lending (mils.) (9) (July)
Refinance lending               $11,958.2     $14,451.8        -17.3
  (mils.) (July) (10)
Foreclosures
  Number (July)                       168           128        +31.3
  Value (mils.) (July)              $68.9         $46.1        +49.5
Building contracts (mils.)
  Residential (Sept.) *            $470.5 *      $352.9 *      +33.3 *
  Nonresidential (Sept.) *         $553.4 *      $326.9 *      +69.3 *
Building permits (mils.)
Residential (Sept.)                $486.0        $667.8        -27.2
Nonresidential (Sept.)             $275.2        $334.6        -17.8
Housing start permits (Sept.)       1,672         2,646        -36.8
Home sales (Aug.)                   8,246         6,146        +34.2
Home prices (000's) (Aug.)         $550.0        $550.0          0
Condo sales (Aug.)                  1,933       1,465.0        +31.9
Condo prices (000's) (Aug.)        $415.0        $420.0         -1.2
Apartments (3rd qtr.)
  Gross occupancy *                 96.2% *       95.7% *         NA *
  Avg. sq. ft. rent *               $1.84 *       $1.80 *       +2.2 *
  Avg. monthly rent  *             $1,595 *      $1,559 *       +2.3 *
Office vacancy rates
    (3rd qtr.)
  Downtown L.A *                    14.3% *       14.0% *         NA *
  San Fernando Valley *               6.0 *         6.1 *         NA *
  West L.A. *                         6.8 *         7.3 *         NA *
  South Bay *                        14.6 *        16.0 *         NA *
  Countywide *                        9.7 *        10.2 *         NA *
Industrial vacancy rates
    (3rd qtr.)
  Downtown/Central *                 1.1% *        1.3% *         NA *
  South Bay *                         2.2 *         2.2 *         NA *
  San Gabriel Valley *                1.1 *         1.5 *         NA *

                                                             % + from
                                 Latest       Previous       previous
TOURISM                          month          month         month

Hotel occupancy rate (Aug.)      82.9%          82.1%           NA
Room rate (Aug.)                $151.06        $144.97         +4.2
Passengers
  LAX (000's) (Aug.)            5,743.1        5,919.7         -3.0
  Burbank Airport                532.1          505.7          +5.2
    (000's) (Aug.)

GENERAL                          Year         % + from
INDICATORS                        ago         year ago

Employment (000's)               4,598.8         +0.2
  (Sept.) (1)
Unemployment (000's)               233.8         -0.4
  (Sept.) (1)
Help-wanted ads index (June)          14        -42.9
Jobless-to-job ad ratio             18.3        +54.6
  (June) (2)

Film Production Days               9,262         +7.2
  (3rd qtr.)
Bankruptcies
Chapter 7 (Aug.)                   2,770        -78.8
Chapter 11 (Aug.)                      9         +0.0
Exports (mils.) (July)          $6,597.2        +17.0
Imports (mils.) (July)         $18,567.8        +11.5
Air cargo (5)
  LAX (Aug.)                       172.4         +4.0
  Burbank (Aug.)                     9.2        +10.9
Container volume (6) (000's)
  Long Beach (Sept.)               610.3         +0.7
  Los Angeles (Aug.) *             663.5 *      +19.3 *
Los Angeles CPI (Aug.)             203.1         +4.3
Electricity Accounts
    (000's) (8)
  Residential (Aug.) *           1,234.3 *       +0.3 *
  Commercial (Aug.) *              181.4 *       +0.1 *
  Industrial (Aug.) *               14.0 *       -1.4 *

                                 Year         %+ from
REAL ESTATE                       ago         year ago

Construction                      $701.0         -31.7
  lending (mils.) (July)
Property acquisition            $6,705.9         -18.7
  lending (mils.) (9) (July)
Refinance lending              $14,589.3         -18.0
  (mils.) (July) (10)
Foreclosures
  Number (July)                       60       +180.0
  Value (mils.) (July)             $26.1       +164.0
Building contracts (mils.)
  Residential (Sept.)  *          $595.7 *      -26.6 *
  Nonresidential (Sept.) *        $409.8 *      +35.0 *
Building permits (mils.)
Residential (Sept.)               $650.0        -25.2
Nonresidential (Sept.)            $313.3        -12.2
Housing start permits (Sept.)      2,671        -37.4
Home sales (Aug.)                 12,107        -31.9
Home prices (000's) (Aug.)        $520.0         +5.8
Condo sales (Aug.)               2,768.0        -30.2
Condo prices (000's) (Aug.)       $400.0         +3.8
Apartments (3rd qtr.)
  Gross occupancy *                96.7% *         NA *
  Avg. sq. ft. rent *              $1.73 *       +6.4 *
  Avg. monthly rent *             $1,472 *       +8.4 *
Office vacancy rates
    (3rd qtr.)
  Downtown L.A *                   15.6% *         NA *
  San Fernando Valley *              7.8 *         NA *
  West L.A. *                        9.8 *         NA *
  South Bay *                       19.0 *         NA *
  Countywide *                      12.2 *         NA *
Industrial vacancy rates
    (3rd qtr.)
  Downtown/Central *                1.0% *         NA *
  South Bay *                        2.2 *         NA *
  San Gabriel Valley *               1.2 *         NA *

                                 Year         %+ from
TOURISM                           ago         year ago

Hotel occupancy rate (Aug.)      84.1%           NA
Room rate (Aug.)                $136.24        +10.9%
Passengers
  LAX (000's) (Aug.)            5,888.0         -2.5
  Burbank Airport                521.2          +2.1
    (000's) (Aug.)

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 L.A. 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

Note: * indicated with 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).