Econowatch L.A. County.

ECONOWATCH
L.A. COUNTY

GENERAL                                   Latest     Previous
INDICATORS                                period       period

Employment (000's)(Aug.) (1)               4,649        4,626
Unemployment (000's)(Aug.) (1)               244          280
Help-wanted ads index (Aug.)#                 12           11
Jobless-to-job ad ratio (Aug.)# (2)         20.3         25.5
Film Production Days (June) (3)            2,645        2,779

Bankruptcies
Chapter 7 (July)                           2,728        3,015
Chapter 11 (July)                              6           13

Exports (mils.) (June)                  $6,597.2     $6,667.6
Imports (mils.) (June)                 $18,567.8    $17,229.8
Air cargo# (5)
  LAX (Aug.)#                              171.9        189.5
  Burbank (June)                             4.7          4.2
Container volume (6) (000's)
  Long Beach (July)                        573.3        576.6
  Los Angeles (July)                       648.4        634.0
Los Angeles CPI (Aug.)                     203.1        201.4
Electricity Accounts (000's)
  Residential (Aug.)                     1,234.3        1,238
  Commercial (Aug.)                        122.5        122.4
  Industrial (Aug.)                         14.1         13.9

                                          Latest     Previous
REAL ESTATE                               period       period

Construction lending (mils.)(June)        $639.2       $538.7
Property acquisition lending (mils.)    $7,157.4       $5,889
  (9) (June)
Refinance lending (mils.)(June) (10)   $12,539.9    $10,272.5
Foreclosures
  Number (June)                               60           44
  Value (mils.)(June)                      $26.1        $19.5
Building contracts (mils.)#
  Residential (Aug.)#                     $591.5       $378.4
  Nonresidential (Aug.)#                  $443.3       $443.3
Building permits (mils.)
  Residential (Aug)                       $665.4       $521.3
  Nonresidential (Aug)                    $318.0       $248.9
Housing start permits (Aug)                2,369        2,045
Home sales (June)                          8,828        7,448
Home prices (000's)(June)                   $500         $480
Condo sales (June)                         2,336        1,982
Condo prices (000's)(June)                  $390         $384
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
  Countrywide                              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

                                           Latest     Previous
TOURISM                                     month        month

Hotel occupancy rate (July)                82.4%        79.4%
Room rate (July)                         $127.53      $126.43
Passengers#
  LAX (000's)(Aug#                       5,918.7      5,993.4
  Burbank Airport (000's)(June)            477.6        466.5

                                         % - from
GENERAL                                  previous         Year
INDICATORS                                 period          ago

Employment (000's)(Aug.) (1)               +0.5%        4,487
Unemployment (000's)(Aug.) (1)             -12.9          317
Help-wanted ads index (Aug.)#               +9.1           14
Jobless-to-job ad ratio (Aug.)# (2)        -20.4         22.6
Film Production Days (June) (3)             -4.8        2,706

Bankruptcies
Chapter 7 (July)                            -9.5        2,589
Chapter 11 (July)                          -53.8           12

Exports (mils.) (June)                      -1.0       $6,115
Imports (mils.) (June)                      +7.7    $17,019.3
Air cargo# (5)
  LAX (Aug.)#                               -9.3        172.1
  Burbank (June)                           +11.9          4.2
Container volume (6) (000's)
  Long Beach (July)                         -0.6        529.7
  Los Angeles (July)                        +2.3        676.4
Los Angeles CPI (Aug.)                      +0.8        193.1
Electricity Accounts (000's)
  Residential (Aug.)                         0.3      1,230.7
  Commercial (Aug.)                         +0.1        121.7
  Industrial (Aug.)                         +1.4         14.2

                                         % + from
                                         previous        Year
REAL ESTATE                                period         ago

Construction lending (mils.)(June)        +18.7%       $467.4
Property acquisition lending (mils.)      +21.5      $5,757.8
  (9) (June)
Refinance lending (mils.)(June) (10)      +22.1     $11,195.2
Foreclosures
  Number (June)                           +36.4           108
  Value (mils.)(June)                     +33.8         $30.7
Building contracts (mils.)#
  Residential (Aug.)#                     +56.3        $493.8
  Nonresidential (Aug.)#                   +2.1        $493.8
Building permits (mils.)
  Residential (Aug)                       -27.6        $370.5
  Nonresidential (Aug)                    +15.8      $1,898.0
Housing start permits (Aug                -20.5         1,794
Home sales (June)                         +18.5         7,686
Home prices (000's)(June)                  +4.2          $440
Condo sales (June)                        +17.9         2,217
Condo prices (000's)(June)                 +1.6          $348
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
  Countrywide                               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
                                         previous        Year
TOURISM                                     month        ago

Hotel occupancy rate (July)                 NA          79.8%
Room rate (July)                           +0.9       $117.94
Passengers#
  LAX (000's)(Aug#                         -1.2      5,857.3
  Burbank Airport (000's)(June)            +2.4        428.2

GENERAL                                   %+ from
INDICATORS                               year ago

Employment (000's)(Aug.) (1)               +3.6%
Unemployment (000's)(Aug.) (1)            -23
Help-wanted ads index (Aug.)#             -14.3
Jobless-to-job ad ratio (Aug.)# (2)       -10.2
Film Production Days (June) (3)            -2.3

Bankruptcies
Chapter 7 (July)                           +5.4
Chapter 11 (July)                         -50

Exports (mils.) (June)                     +7.9
Imports (mils.) (June)                     +9.1
Air cargo# (5)
  LAX (Aug.)#                              -0.1
  Burbank (June)                          +11.9
Container volume (6) (000's)
  Long Beach (July)                        +8.2
  Los Angeles (July)                       -4.1
Los Angeles CPI (Aug.)                     +5.2
Electricity Accounts (000's)
  Residential (Aug.)                       +0.3
  Commercial (Aug.)                        +0.7
  Industrial (Aug.)                        -0.7

                                         %+ from
REAL ESTATE                             year ago

Construction lending (mils.)(June)        +36.8%
Property acquisition lending (mils.)      +24.3
  (9) (June)
Refinance lending (mils.)(June) (10)      +12
Foreclosures
  Number (June)                           -44.4
  Value (mils.)(June)                     -15
Building contracts (mils.)#
  Residential (Aug.)#                     +19.8
  Nonresidential (Aug.)#                  -10.2
Building permits (mils.)
  Residential (Aug)                       -14.2
  Nonresidential (Aug)                    +24.8
Housing start permits (Aug)                +6.7
Home sales (June)                         +14.9
Home prices (000's)(June)                 +13.6
Condo sales (June)                         +5.4
Condo prices (000's)(June)                +12.1
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
  Countrywide                               NA
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                          NA
  South Bay                                 NA
  San Gabriel Valley                        NA

                                          %+ from
TOURISM                                  year ago

Hotel occupancy rate (July)                 NA
Room rate (July)                           +8.1
Passengers
  LAX (000's)(Aug                            +1
  Burbank Airport (000's)(June)            +11.5

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 UPDATE 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).

Note: Updated figures indicates within #.