Econowatch L.A. County.

ECONOWATCH L.A. COUNTY

GENERAL INDICATORS
                                                              % - from
                                         Latest    Previous   previous
                                         period      period     period

Employment (000's) (Nov.) (1) *           4,596       4,575      +0.5%
Unemployment (000's) (Nov.) (1) *           287         291      -1.4
Help-wanted ads index (Oct.)                 12          14     -14.3
Jobless-to-job ad ratio (Oct.) (2)         24.3        21.7     +12
Film Production Days (Oct.) (3)           3,263       2,853     +14.4

Bankruptcies
Chapter 7 (Oct.)                          2,483       2,412      +2.9
Chapter 11 (Oct.)                            19          17     +11.8

Exports (mils.) (Sept.)                $5,793.5    $5,755.6      +0.7
Imports (mils.) (Sept.)               $16,978.4   $17,018.7      -0.2

Air cargos (5)
  LAX (Sept.)                              17.8        17.2      +3.5
  Burbank (Sept.)                             4         3.8      +5.3
Container volume (6) (000's)
  Long Beach (Oct.)                       557.7       494.4     +12.8
  Los Angeles (Oct.)                      642.9       592.8      +8.5
Los Angeles CPI (Oct.) *                  196.3       194.5      +0.9
Electricity Accounts (000's)8
  Residential (Oct.)                    1,231.7     1,230.6       +.01
  Commercial (Oct.)                       121.4       121.5      -0.1
  Industrial (Oct.)                        14.8        14.8       0

                                          Year    % + from
                                           ago    year ago

Employment (000's) (Nov.) (1) *           4,471      +2.8%
Unemployment (000's) (Nov.) (1) *           324     -11.4
Help-wanted ads index (Oct.)                 12       0
Jobless-to-job ad ratio (Oct.) (2)         28.8     -15.6
Film Production Days (Oct.) (3)           2,812     +16

Bankruptcies
Chapter 7 (Oct.)                          3,413     -27.2
Chapter 11 (Oct.)                            22     -13.6

Exports (mils.) (Sept.)                $5,294.1      +9.4
Imports (mils.) (Sept.)               $14,909.8     +13.9

Air cargos (5)
  LAX (Sept.)                              16.8      +5.8
  Burbank (Sept.)                           3.7      +8.1
Container volume (6) (000's)
  Long Beach (Oct.)                       436.8      27.7
  Los Angeles (Oct.)                      671.1      -4.2
Los Angeles CPI (Oct.) *                  187.8       4.5
Electricity Accounts (000's)8
  Residential (Oct.)                    1,225.8      +0.5
  Commercial (Oct.)                       120.0      +1.2
  Industrial (Oct.)                        14.9      -0.7

REAL ESTATE

                                                              % + from
                                         Latest    Previous   previous
                                         period      period     period

Construction lending (mils.)             $480.6      $467.4       +2.8
  (Sept.)
Property acquisition lending           $5,479.3    $5,757.8       -4.8
  (mils.) (9) (Sept.)
Refinance lending (mils.)                $630.3   $11,195.2      -94.6
  (Sept.) (10)

Foreclosures
  Number (Sept.)                             78         108      -27.7
  Value (mils.) (Sept.)                   $21.6       $30.7      -29.6
Building contracts (mils.)
  Residential (Aug.)                     $343.5      $352.6       -2.6
  Nonresidential (Aug.)                  $253.8        $313      -18.9
Building permits (mils.)
  Residential (Oct.)                     $564.1      $500.6      +12.7
  Nonresidential (Oct.)                  $279.2      $231.4      +20.7
Housing start permits (Oct.)              2,191       1,852      +18.3
Home sales (Sept.)                        7,907       8,047       -1.7
Home prices (000's) (Sept.)                $425        $425        0
Condo sales (Sept.)                       2,131       2,257       -5.6
Condo prices (000's) (Sept.)               $335        $330       +1.5
Apartments (2nd qtr.)
  Gross occupancy                         96.4%       96.2%         NA
  Avg. sq. ft. rent                       $1.53       $1.52       +0.7
  Avg. monthly rent                      $1,291      $1,271       +1.6
Office vacancy rates (3rd qtr.)
  Downtown L.A.                           19.4%        20%          NA
  San Fernando Valley                     10.0         10           NA
  West L.A.                               15.2         16.7         NA
  South Bay                               19.3         19.3         NA
  Countywide                              15           15.7         NA
Industrial vacancy rates (3rd qtr.)
  Downtown/Central                         1.6%        1.6%         NA
  South Bay                                2.7         3.3          NA
  San Gabriel Valley                       1.5         1.8          NA

                                          Year    % + from
                                           ago    year ago

Construction lending (mils.)             $401.0     19.85%
  (Sept.)
Property acquisition lending           $4,529.1    +21
  (mils.) (9) (Sept.)
Refinance lending (mils.)                $470.8    +33.8
  (Sept.) (10)

Foreclosures
  Number (Sept.)                            201    -61.1
  Value (mils.) (Sept.)                     $44    -50.9
Building contracts (mils.)
  Residential (Aug.)                     $288.6    +19
  Nonresidential (Aug.)                  $298.5    -15
Building permits (mils.)
  Residential (Oct.)                     $570.3     -1.1
  Nonresidential (Oct.)                  $268.5     +4
Housing start permits (Oct.)              2,785    -21.3
Home sales (Sept.)                        8,009     -1.3
Home prices (000's) (Sept.)                $355    +19.7
Condo sales (Sept.)                       2,265     -5.9
Condo prices (000's) (Sept.)               $280    +19.6
Apartments (2nd qtr.)
  Gross occupancy                         96.1%       NA
  Avg. sq. ft. rent                       $1.48     +3.4
  Avg. monthly rent                      $1,247     +3.5
Office vacancy rates (3rd qtr.)
  Downtown L.A.                           19.9%       NA
  San Fernando Valley                     12.8        NA
  West L.A.                               15.4        NA
  South Bay                               19.4        NA
  Countywide                              15.8        NA
Industrial vacancy rates (3rd qtr.)
  Downtown/Central                         1.8%       NA
  South Bay                                3.4        NA
  San Gabriel Valley                       2.2        NA

TOURISM

                                                              % + from
                                        Latest    Previous    previous
                                        period      period     period

Hotel occupancy rate (Sept.)              73.2%       81.3%         NA
Room rate (Sept.)                       $115.48     $120.48       -4.2%
Passengers
  LAX (000's) (Sept.)                   4,677.1     5.856.2      -20.1
  Burbank Airport (000's) (Sept.)         391.6       457.9       -14.5

                                          Year    % + from
                                           ago    year ago

Hotel occupancy rate (Sept.)              68.4%        NA
Room rate (Sept.)                       $109.11     +5.8%
Passengers
  LAX (000's) (Sept.)                     4,168    +12.2
  Burbank Airport (000's) (Sept.)         374.8     +4.5

(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

* 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).