Econowatch L.A. County. (Investments & Finance).

ECONOWATCH L.A. COUNTY

GENERAL INDICATORS

                                                                % - from
                                             Latest   Previous  previous
                                             period     period    period

Employment (000's) (Aug.) (1)                 4,554      4,581     -0.6%
Unemployment (000's) (Aug.)                     331        362      -8.6
Help-wanted ads index (July)                     19         25       -24
Jobless-to-job ad ratio (Mar.) (2)               46         47      -1.9
Film permits (Aug.) (3)                       2,505      2,066      21.1

Bankruptcies

Chapter 7 (May)                               3,480      3,465      +0.4
Chapter 11 (May)                                 24         21     +14.3
Exports (mils.) (Apr.) (4)                 $5,205.7   $5,752.4      -9.5
Imports (mils.) (Apr.) (4)                $12,193.9  $10,787.0     +13.0

Air cargo5

  LAX (July)                                  165.9      171.3      -3.2
Burbank (Aug)                                   4.3        3.9     +10.2

Container volume (6) (000's)

  Long Beach (Aug.)                           427.2      320.1     +33.4
  Los Angeles (May.)                          536.5      531.2     +10.4
Los Angeles CPI (Apr.) (7)                    179.8      178.1      +0.9

Electricity Accounts (000's) (8)

  Residential (May)                           1,219    1,217.0      +1.1
  Commercial (May)                            174.8      177.9      -1.7
  Industrial (May)                             15.3       15.3         0


                                               Year  % + from
                                                ago  year ago

Employment (000's) (Aug.) (1)                 4,604     -1.1%
Unemployment (000's) (Aug.)                     304      +8.8
Help-wanted ads index (July)                     26       -27
Jobless-to-job ad ratio (Mar.) (2)               67     -31.4
Film permits (Aug.) (3)                       1,890      32.5

Bankruptcies

Chapter 7 (May)                               3,970     -12.3
Chapter 11 (May)                                 34     -29.4
Exports (mils.) (Apr.) (4)                 $5,505.1      -5.4
Imports (mils.) (Apr.) (4)                $11,645.2      +4.7

Air cargo5

  LAX (July)                                  161.0      +3.0
Burbank (Aug)                                   3.1     +38.7

Container volume (6) (000's)

  Long Beach (Aug.)                           404.5      +5.3
  Los Angeles (May.)                          435.2     +23.3
Los Angeles CPI (Apr.) (7)                    176.6      +1.8

Electricity Accounts (000's) (8)

  Residential (May)                         1,210.0      +0.7
  Commercial (May)                            173.8         1
  Industrial (May)                             15.6      -1.9

REAL ESTATE

                                                                % - from
                                             Latest   Previous  previous
                                             period     period    period

Construction lending (mils.) (Aug.)          $329.5     $247.2    +33.2%
Property acquisition lending               $3,887.1   $3,452.4     +12.6
 (mils.) (9) (Aug.)
Refinance lending (mils.) (Aug.) (18)       $10,666     $8,527     +25.0

Foreclosures

  Number (Aug.)                                 519        558        -7
  Value (mils.) (Aug.)                         $102     $108.5        -6

Building contracts (mils.)

  Residential (Dec.)                         $185.4     $146.7     +11.9
  Nonresidential (Dec.)                      $160.8     $286.4     -26.6

Building permits (mils.)

  Residential (May)                          $334.3     $363.7      -8.1
  Nonresidential (May)                       $271.2     $285.7      -5.1
Housing start permits (Mar.)                  1,317      1,047     +25.7
Home sales (Mar.)                             7,794      5,817     +40.0
Home prices (000's) (Mar.)                   $257.5     $244.0      +5.5
Condo sales (Apr.)                            2,318      2,228      +4.0
Condo prices (000's) (Apr.)                  $195.0     $192.0      +1.6

Apartments (2nd qtr.)

  Gross occupancy                             96.9%      96.0%        NA
  Avg. sq. ft. rent                           $1.41      $1.39      +1.4
  Avg. monthly rent                          $1,190     $1,172      +1.5

Office vacancy rates (2nd qtr.) (11)

  Downtown L.A.                               18.5%      17.3%        NA
  San Fernando Valley                         15.5%      15.6%        NA
  West L.A.                                   15.7%      15.1%        NA
  South Bay                                   19.4%      19.1%        NA
  Countywide                                  16.5%      15.9%        NA

Industrial vacancy rates (2nd qtr.) (11)

  Downtown/Central                             3.0%       3.2%        NA
  South Bay                                    4.1%       4.3%        NA
  San Gabriel Valley                           3.1%       3.8%        NA


                                               Year  % + from
                                                ago  year ago

Construction lending (mils.) (Aug.)          $423.8    -22.3%
Property acquisition lending               $3,328.6     +16.7
 (mils.) (9) (Aug.)
Refinance lending (mils.) (Aug.) (18)      $6,364.2     +62.5

Foreclosures

  Number (Aug.)                                 745        31
  Value (mils.) (Aug.)                       $122.7       6.9

Building contracts (mils.)

  Residential (Dec.)                         $364.6     -49.2
  Nonresidential (Dec.)                      $331.0     -51.4

Building permits (mils.)

  Residential (May)                          $323.8      +3.2
  Nonresidential (May)                       $374.4     -27.6
Housing start permits (Mar.)                  1,527     -13.8
Home sales (Mar.)                             8,529      -8.6
Home prices (000's) (Mar.)                   $216.0     +19.2
Condo sales (Apr.)                            1,939     +19.5
Condo prices (000's) (Apr.)                  $178.0      +9.6

Apartments (2nd qtr.)

  Gross occupancy                             97.7%        NA
  Avg. sq. ft. rent                           $1.37      +2.9
  Avg. monthly rent                          $1,130      +5.3

Office vacancy rates (2nd qtr.) (11)

  Downtown L.A.                               19.1%        NA
  San Fernando Valley                         11.6%        NA
  West L.A.                                   11.2%        NA
  South Bay                                   14.2%        NA
  Countywide                                  13.7%        NA

Industrial vacancy rates (2nd qtr.) (11)

  Downtown/Central                             1.4%        NA
  South Bay                                    4.5%        NA
  San Gabriel Valley                           3.8%        NA

TOURISM

                                                                % - from
                                             Latest   Previous  previous
                                             period     period    period

Hotel occupancy rate                          70.0%      69.5%       0.5
 (July)
Room rate (July)                            $114.03    $116.59      2.2%

Passengers

  LAX (000's) (June)                          5,386      5,084      +5.9
Burbank Airport                               444.7      390.5       1.4
 (000's) (Aug.)


                                               Year  % + from
                                                ago  year ago

Hotel occupancy rate                          75.4%     -4.8%
 (July)
Room rate (July)                            $118.91     -4.2%

Passengers

  LAX (000's) (June)                          6,375     -15.1
Burbank Airport                               446.5       0.5
 (000's) (Aug.)

FOOTNOTES

(1)Not seasonally adjusted.

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

(3)Film production days

(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).