Econowatch L.A. County.

ECONOWATCH
L.A. COUNTY

GENERAL
INDICATORS

                                         Latest     Previous
                                         period       period

Employment (000's) (May) (1)            4,665.7      4,649.7
Unemployment (000's) (May) (1)            216.8        230.4
Film Production Days (1st qtr.)          14,678       13,780

Bankruptcies
Chapter 7 (April)                           946         1069
Chapter 11 (April)                           11           20

Trade (3)
Exports (mils.) (April)                $7,901.1     $8,823.6
Imports (mils.) (April)               $19,944.6    $18,765.8

Air cargo (4)
  LAX (May)                               165.9        162.0
  Burbank (April)                           9.1          9.7
Container volume (5) (000's)
  Long Beach May)                         606.3        572.2
  Los Angeles (May)                       681.5        679.7

Los Angeles CPI (May)                     281.6        217.8

Electricity Accounts (000's) (6)#
  Residential (May)#                    1,243.4#     1,246.9#
  Commercial (May)#                       179.7#       181.2#
  Industrial (May)#                        14.0#        13.6#

                                       % - from
                                       previous       Year     %+ from
                                         period        ago    year ago

Employment (000's) (May) (1)               +0.3      4,627.0      +0.8
Unemployment (000's) (May) (1)             -5.9        223.8      -3.1
Film Production Days (1st qtr.) (2)        +6.5       13,885      +5.7

Bankruptcies
Chapter 7 (April)                          -12          534       +77
Chapter 11 (April)                         -45           10       +10

Trade (3)
Exports (mils.) (April)                   -10.5     $7,292.6       8.3
Imports (mils.) (April)                    +6.3    $18,887.2      +5.6

Air cargo (4)
  LAX (May)                                +2.4        168.5      -1.5
  Burbank (April)                          -6.2          9.7      -6.2
Container volume (5) (000's)
  Long Beach (May)                         +4.7        644.1      -5.9
  Los Angeles (May)                        +0.3        696.0      -2.1

Los Angeles CPI (May)                      +0.4        212.4      +2.9

Electricity Accounts (000's) (6)#
  Residential (May)#                       -0.2#      1,247.6#    -0.3#
  Commercial (May)#                        -0.8#        177.6#    +1.2#
  Industrial (May)#                        +2.9#         13.5#    +3.7#

REAL ESTATE

                                       Latest    Previous
                                       period      period

Construction lending (mils.)            $624.2      $779.3
  (April)
Property acquisition lending          $3,903.2    $4,770.4
  (mils.) (7) (April)
Refinance lending (mils.)            $10,213.2   $11,692.7
(April) (8)

Foreclosures
  Number (April)                       1,352.0       840.0
  Value (mils.) (April)                 $435.8      $333.1
Building contracts (May)
  Residential (May)                     $403.0      $388.4
  Nonresidential (May)                  $500.5      $398.9
Building permits (mils.)#
  Residential (May)#                    $693.1#     $530.2#
  Nonresidential (May)#                 $371.8#     $341.4#
Housing start permits (May)              2,130       1,839
Home sales (May)                         5,666       5,096
Home prices (000's) (May)               $585.0      $575.0
Condo sales (May)                        1,686       1,531
Condo prices (000's) (May)              $440.0      $445.0
Apartments (1st qtr.)
  Gross occupancy                         95.9%       95.3%
  Avg. sq. ft. rent                      $1.90       $1.86
  Avg. monthly rent                     $1,642      $1,614
Office vacancy rates (1st qtr.)
  Downtown L.A.                           14.0%       14.1%
  San Fernando Valley                      5.6         6.0
  West L.A.                                8.4         6.4
  South Bay                               12.8        14.5
  Countywide                               9.5         9.5
Industrial vacancy rates (1st qtr.)
  Downtown/Central                         1.2%        0.9%
  South Bay                                1.8         1.9
  San Gabriel Valley                       1.8         1.2

                                       % + from
                                       previous        Year    %+ from
                                         period         ago    year ago

Construction lending (mils.)             -19.9      $657.3       -5.0
  (April)
Property acquisition lending             -18.2    $4,908.2      -20.5
  (mils.) (7) (April)
Refinance lending (mils.)                -12.7    $9,905.8       +3.1
  (April) (8)

Foreclosures
  Number (April)                         +61.0       111.0   +1,118.0
  Value (mils.) (April)                  +30.8       $88.1     $394.7
Building contracts (May)
  Residential (May)                       +3.8      $568.6      -29.1
  Nonresidential (May)                   $25.5      $871.1      -42.5
Building permits (mils.)#
  Residential (May)#                      30.7#     $542.6#     +27.7#
  Nonresidential (May)#                    8.9#     $338.6#      +9.8#
Housing start permits (May)              +15.8       1,752      +21.6
Home sales (May)                         +11.2       8,949      -36.7
Home prices (000's) (May)                 +1.7      $550.0       +6.4
Condo sales (May)                        +10.1       2,473      -31.8
Condo prices (000's) (May)                -1.1      $415.0       +6.0
Apartments (1st qtr.)
  Gross occupancy                           NA       97.5%         NA
  Avg. sq. ft. rent                       +2.2       $1.69      +12.4
  Avg. monthly rent                       +1.7      $1,420      +15.6
Office vacancy rates (1st qtr.)
  Downtown L.A.                             NA        15.0%        NA
  San Fernando Valley                       NA         7.0         NA
  West L.A.                                 NA         8.0         NA
  South Bay                                 NA        16.1         NA
  Countywide                                NA        11.0         NA
Industrial vacancy rates (1st qtr.)
  Downtown/Central                          NA         1.4%        NA
  South Bay                                 NA         2.5         NA
  San Gabriel Valley                        NA         1.9         NA

TOURISM TOURISM
                                         Latest    Previous    % + from
                                          month       month    previous
                                                                month

Hotel occupancy rate (April)              76.1%       80.9%        NA
Room rate (April)                       $159.45     $156.97      +1.6
Passengers
  LAX (000's) (May)                    5,258.4     5,173.1       +1.6
  Burbank Airport (000's) (April)        488.1       477.4        2.2

                                           Year     %+ from
                                            ago    year ago

Hotel occupancy rate (April)              76.38%        NA
Room rate (April)                       $144.46      +10.4
Passengers
  LAX (000's) (May)                    5,177.4         1.6
  Burbank Airport (000's) (April)        473.1        +3.1

FOOTNOTES

(1.) Not seasonally adjusted.

(2.) Music, television, film and commercials quarterly.

(3.) Through Los Angeles Customs District.

(4.) In thousands of tons.

(5.) 20-foot equivalent unit.

(6.) Metropolitan L.A. and San Fernando Valley

(7.) Apartment and residential combined

(8.) Includes refinancings, second mortgages and equity
mortgages

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).

Note: Updated figures indicated with #.