Econowatch L.A. County.

ECONOWATCH
L.A. COUNTY

GENERAL
INDICATORS

                                                Latest      Previous
                                                period        period

Employment (000's) (July) (1)                    4,627         4,602
Unemployment (000's) (July) (1)                    280           275
Help-wanted ads index (June)                        14            15
Jobless-to-job ad ratio (June) (2)                19.7          17.8
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 (June)                                     180.8         170.1
  Burbank (June)                                   4.7           4.2
Container volume (6) (000's)#
  Long Beach (July)#                             573.3#        576.6#
  Los Angeles (July)#                            648.4#          634#
Los Angeles CPI (June)                           200.7         201.5
Electricity Accounts (000's) (8)
  Residential (June)                           1,236.2       1,236.6
  Commercial (June)                              122.5         122.3
  Industrial (June)                               14.1          14.1

                                             % - from
                                             previous        Year
                                               period         ago

Employment (000's) (July) (1)                     0.5%        4,489
Unemployment (000's) (July) (1)                  +1.8           345
Help-wanted ads index (June)                     -6.7            17
Jobless-to-job ad ratio (June) (2)              +10.7          19.5
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 (June)                                     +6.3         176.6
  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 (June)                           -0.4         200.6
Electricity Accounts (000's) (8)
  Residential (June)                             -0.03      1,229.9
  Commercial (June)                              +0.2         121.3
  Industrial (June)                               0            14.3

                                             % + from
                                             year ago

Employment (000's) (July) (1)                     3.1%
Unemployment (000's) (July) (1)                 -18.8
Help-wanted ads index (June)                    -17.6
Jobless-to-job ad ratio (June) (2)               +1
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 (June)                                     +2.4
  Burbank (June)                                +11.9
Container volume (6) (000's)#
  Long Beach (July)#                             +8.2#
  Los Angeles (July)#                            -4.1#
Los Angeles CPI (June)                           +0.05
Electricity Accounts (000's) (8)
  Residential (June)                             +0.5
  Commercial (June)                              +1
  Industrial (June)                              -1.4

REAL ESTATE

                                                Latest      Previous
                                                period        period

Construction lending (mils.) (May)              $538.7        $343.8
Property acquisition lending (mils.) (9)
  (May)                                       $5,889        $5,926.6
Refinance lending (mils.) (May) (10)         $10,272.5     $10,321.1
Foreclosures
  Number (June)                                     60            44
  Value (mils.) (June)                           $26.1         $19.5
Building contracts (mils.)#
  Residential (July)#                           $378.4#       $713.9#
  Nonresidential (July)#                        $434.3#       $669.8#
Building permits (mils.)
  Residential (July)                            $497.4        $689.2
  Nonresidential (July)                         $235.7        $383.6
Housing start permits (July)                     1,915         2,408
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
  Countywide                                     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

                                             % + from
                                             previous        Year
                                               period         ago

Construction lending (mils.) (May)               56.7%       $429.6
Property acquisition lending (mils.) (9)
  (May)                                          -0.6        $5,046
Refinance lending (mils.) (May) (10)             -0.5     $12,655.5
Foreclosures
  Number (June)                                 +36.4           108
  Value (mils.) (June)                          +33.8         $30.7
Building contracts (mils.)#
  Residential (July)#                            -4.7#       $406.8#
  Nonresidential (July)#                        -35.2#       $734.3#
Building permits (mils.)
  Residential (July)                            -27.8        $524.5
  Nonresidential (July)                         -38.6          $253
Housing start permits (July)                    -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
  Countywide                                     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
                                             year ago

Construction lending (mils.) (May)              +25.4%
Property acquisition lending (mils.) (9)
  (May)                                         +16.7
Refinance lending (mils.) (May) (10)            -18.8
Foreclosures
  Number (June)                                 -44.4
  Value (mils.) (June)                          -15
Building contracts (mils.)#
  Residential (July)#                            -7#
  Nonresidential (July)#                        -40.9#
Building permits (mils.)
  Residential (July)                             -5.2
  Nonresidential (July)                          -6.8
Housing start permits (July)                     +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
  Countywide                                     NA
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                               NA
  South Bay                                      NA
  San Gabriel Valley                             NA

TOURISM

                                              Latest      Previous
                                              month         month

Hotel occupancy rate (July)#                   82.4%#      79.4%#
Room rate (July)#                            $127.53#    $126.43#
Passengers
  LAX (000's) (July)                         5,993.4     5,534.9
  Burbank Airport (000's) (June)               477.6       466.5

                                             % + from
                                             previous      Year
                                                month       ago

Hotel occupancy rate (July)#                      NA#      79.8%#
Room rate (July)#                               +0.9#    $117.94#
Passengers
  LAX (000's) (July)                            +8.3     5,989.1
  Burbank Airport (000's) (June)                +2.4       428.2

                                             % + from
                                             year ago

Hotel occupancy rate (July)#                      NA#
Room rate (July)#                               +8.1#
Passengers
  LAX (000's) (July)                            +0.1
  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 UPDATED FIGURES

Note: Updated figures indicated with #.

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).

--Matt Myerhoff