Econowatch L.A. County.

ECONOWATCH
L.A. COUNTY

                                                        % - from
GENERAL                            Latest    Previous   previous
INDICATORS                         period      period     period

Employment (000's)                  4,627       4,602      +0.5%
  (July) (1) *
Unemployment (000's)                  280         275      +1.8
  (July) (1) *
Help-wanted ads index (June)           14          15      -6.7
Jobless-to-job ad ratio              19.7        17.8     +10.7
  (June) (2)
Film Production Days                3,340       2,854     +17
  (March) (3)

Bankruptcies *
Chapter 7 (July) *                  2,728       3,015      -9.5
Chapter 11 (July) *                     6          13     -53.8

Exports (mils.) (May)            $6,667.6    $6,757.4      +6.8
Imports (mils.) (May)           $17,229.8   $17,309.8      -0.5

Air cargo (5)
  LAX (June)                        180.8       170.1      +6.3
  Burbank (June)                      4.7         4.2     +11.9

Container volume (6) (000's)
  Long Beach (June)                 576.6       564.9      +2.1
  Los Angeles (June)                  634       610.6      +3.8

Los Angeles CPI (June)              200.7       201.5      -0.4

Electricity Accounts
  (000's) (8)
  Residential (June)              1,236.2     1,236.6      -0.03
  Commercial (June)                 122.5       122.3      +0.2
  Industrial (June)                  14.1        14.1       0

REAL ESTATE

Construction lending               $538.7      $343.8      56.7%
  (mils.) (May)
Property acquisition lending       $5,889    $5,926.6      -0.6
  (mils.) (9) (May)
Refinance lending (mils.)       $10,272.5   $10,321.1      -0.5
  (May) (10)

Foreclosures
  Number (June)                        60          44     +36.4
  Value (mils.) (June)              $26.1        19.5     +33.8

Building contracts (mils.)
  Residential (June)               $713.9      $463.5     +54
  Nonresidential (June)            $669.8      $409.2     +63.7

Building permits (mils.) *
  Residential (July) *             $497.4      $689.2     -27.8
  Nonresidential (July) *          $235.7      $383.6     -38.6

Housing start permits (July)        1,915       2,408     -20.5
Home sales (June)                   8,828       7,448     +18.5
Home prices (000's) (June)           $500        $480      +4.2
Condo sales (June)                  2,336       1,982     +17.9
Condo prices (000's) (June)          $390        $384      +1.6

Apartments (1st qtr.)
  Gross occupancy                     97%       96.8%      NA
  Avg. sq. ft. rent                 $1.59       $1.55      +2.6
  Avg. monthly rent                $1,327      $1,300      +2.1

Office vacancy rates
  (2nd qtr.)
  Downtown L.A                      15.9%       17.8%      NA
  San Fernando Valley                7.8         7.9       NA
  West L.A                          11.5        13.5       NA
  South Bay                         20.1        20.4       NA
  Countywide                        13          14         NA

Industrial vacancy rates
  (2nd qtr.)
  Downtown/Central                   1%          1.1%      NA
  South Bay                          2.2         2.5       NA
  San Gabriel Valley                 1.2         1.5       NA

TOURISM

Hotel occupancy rate (June)         79.4%       74.8%      NA
Room rate (June)                  $126.43     $133.67      -5.4
Passengers
  LAX (000's) (June)              5,531.9     5,159.1      +7.2
  Burbank Airport (000's)           477.6       466.5      +2.4
  (June)

GENERAL                              Year   % + from
INDICATORS                            ago   year ago

Employment (000's)                  4,489      +3.1%
  (July) (1) *
Unemployment (000's)                  345     -18.8
  (July) (1) *
Help-wanted ads index (June)           17     -17.6
Jobless-to-job ad ratio              19.5      +1
  (June) (2)
Film Production Days                3,761     -11.2
  (March) (3)

Bankruptcies *
Chapter 7 (July) *                  2,589      +5.4
Chapter 11 (July) *                    12     -50

Exports (mils.) (May)            $6,249.7      +6.7
Imports (mils.) (May)           $15,280.5     +12.8

Air cargo (5)
  LAX (June)                        176.6      +2.4
  Burbank (June)                      4.2     +11.9

Container volume (6) (000's)
  Long Beach (June)                 494.1     +16.7
  Los Angeles (June)               6612.1      +3.6

Los Angeles CPI (June)              200.6      +0.05

Electricity Accounts
  (000's) (8)
  Residential (June)              1,229.9      +0.5
  Commercial (June)                 121.3      +1
  Industrial (June)                  14.3      -1.4

REAL ESTATE

Construction lending               $429.6     +25.4
  (mils.) (May)
Property acquisition lending       $5,046     +16.7
  (mils.) (9) (May)
Refinance lending (mils.)       $12,655.5     -18.8
  (May) (10)

Foreclosures
  Number (June)                       108     -44.4
  Value (mils.) (June)              $30.7     -15

Building contracts (mils.)
  Residential (June)               $440.7     +62
  Nonresidential (June)            $473.9     +41.3

Building permits (mils.) *
  Residential (July) *             $524.5      -5.2
  Nonresidential (July) *            $253      -6.8

Housing start permits (July)        1,794      +6.7
Home sales (June)                   7,686     +14.9
Home prices (000's) (June)           $440     +13.6
Condo sales (June)                  2,217      +5.4
Condo prices (000's) (June)          $348     +12.1

Apartments (1st qtr.)
  Gross occupancy                   96.2%      NA
  Avg. sq. ft. rent                 $1.52      +4.6
  Avg. monthly rent                $1,271      +4.4

Office vacancy rates
  (2nd qtr.)
  Downtown L.A                      20%        NA
  San Fernando Valley               10         NA
  West L.A                          16.7       NA
  South Bay                         19.3       NA
  Countywide                        15.7       NA

Industrial vacancy rates
  (2nd qtr.)
  Downtown/Central                   1.6%      NA
  South Bay                          3.3       NA
  San Gabriel Valley                 1.8       NA

TOURISM

Hotel occupancy rate (June)         76.7%      NA
Room rate (June)                  $116.72      +8.3
Passengers
  LAX (000's) (June)              5,561.3      -0.5
  Burbank Airport (000's)           428.2     +11.5
  (June)

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 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).