Econowatch L.A. County.

ECONOWATCH
L.A. COUNTY

GENERAL
INDICATORS

                                                         % - from
                                 Latest     Previous     previous
                                 period       period      period

Employment (000's)               4,717.2      4,742.9       -0.54
    (Sept.) (1)
Unemployment (000's)               257.3        258.1       -0.31
    (Sept.) (1)
Film Production Days              13,768       14,678       -6.2
    (2nd qtr.) (2)
Bankruptcies
Chapter 7 (Sept.)                  714.0        899.0      -20.6
Chapter 11 (Sept.)                   5.0         11.0      -54.5
Trade (3)
Exports (mils.) (Sept.)         $8,379.2     $8,428.7       -0.59
Imports (mils.) (Sept.)        $21,910.6    $21,522.0       +1.8
Air cargo (3)
  LAX (Sept.)                      172.2        175.0       -1.6
  Burbank (Sept.)                    6.9          9.6      -28.1
Container volume (5) (000's)
  Long Beach (Aug.)                657.9        647.4       +1.6
  Los Angeles (Aug.)               714.7        716.3       -0.2
Los Angeles CPI (Aug.)             217.3        217.5       -0.09
Electricity Accounts
  (000's) (6)
Residential (Sept.)              1,242.5      1,243.5       -0.08
Commercial (Sept.)                 176.7        180.2       -1.9
Industrial (Sept.)                  13.6         13.5        +.74

                                                         % + from
REAL ESTATE                      Latest     Previous     previous
                                 period       period      period

Construction lending              $604.3       $743.3      -18.7
    (mils.) (July)
Property acquisition            $3,699.7     $4,263.4      -13.2
    lending (mils.)
    (7) (July)
Refinance lending               $8,338.7     $9,186.7       -9.2
    (mils.) (July) (8)
Foreclosures
  Number (Sept.)                   1,418        1,237      +14.6
  Value (mils.) (Sept.)           $613.2       $505.2      +21.4
Building contracts (mils)
  Residential (Sept.)             $214.5       $367.8      -41.6
  Nonresidential (Sept.)          $442.0       $757.7      -41.7
Building permits (mils.)
  Residential (Sept.)             $367.8       $400.0      -8.05
  Nonresidential (Sept.)          $442.0       $757.7      -41.7
Housing start permits (Aug.)       1,768        1,482      +19.3
Home sales (Sept.)                 3,237        4,107      -21.2
Home prices (000's) (Sept.)       $580.0#      $579.0#     +0.17#
Condo sales (Sept.)                1,030        1,168      -11.8
Condo prices (000's) (Sept.)      $446.0#      $460.0#      -3.0#
Apartments (3rd qtr.)
  Gross occupancy                  95.0%        95.6%       -0.63
  Avg. sq. ft. rent                $1.96        $1.94       +1.03
  Avg. monthly rent               $1,683       $1,660       +1.4
Office vacancy rates
    (3rd qtr.)
  Downtown L.A.                    12.5%        13.5%       -7.41
  San Fernando Valley               7.8          6.0       +30.0
  West L.A.                         5.7          8.6       -33.7
  South Bay                        12.2         13.2        -7.6
  Countywide                        9.2          9.5        -3.2
Industrial vacancy
    rates (3rd qtr.)
  Downtown/Central                  0.7%         1.0%      -30.0
  South Bay                         1.8          2.1       -14.3
  San Gabriel Valley                1.9          1.6       -18.8

                                                         % + from
TOURISM                          Latest     Previous     previous
                                  month        month       month

Hotel occupancy rate (Aug.)       84.47%                    +4.0
Room fate (Aug.)                 $161.11      $159.52       +0.99
Passengers
  LAX (000's) (July)            5,948.7      5,583.0        +6.6
  Burbank Airport                 540.4        536.0        +0.75
    (000's) (July)

                                   Year     % + from
                                    ago     year ago

Employment (000's)               4,624.0       +2.0
    (Sept.) (1)
Unemployment (000's)               225.7      +14.0
    (Sept.) (1)
Film Production Days              12,993       +6.0
    (2nd qtr.) (2)
Bankruptcies
Chapter 7 (Sept.)                  586.0      +21.8
Chapter 11 (Sept.)                   9.0      -44.4
Trade (3)
Exports (mils.) (Sept.)         $7,622.7       +9.9
Imports (mils.) (Sept.)        $20,990.9       +4.4
Air cargo (3)
  LAX (Sept.)                      187.1       -8.0
  Burbank (Sept.)                    9.6      -28.1
Container volume (5) (000's)
  Long Beach (Aug.)                675.1       -2.5
  Los Angeles (Aug.)               790.7       -9.6
Los Angeles CPI (Aug.)             211.9       +2.5
Electricity Accounts
  (000's) (6)
Residential (Sept.)              1,241.0       +0.12
Commercial (Sept.)                 178.0       -0.73
Industrial (Sept.)                  13.8       -1.4

REAL ESTATE                        Year     % + from
                                    ago     year ago

Construction lending              $479.0      +26.2
    (mils.) (July)
Property acquisition            $4,781.2      -22.6
    lending (mils.)
    (7) (July)
Refinance lending               $9,614.8      -13.3
    (mils.) (July) (8)
Foreclosures
  Number (Sept.)                     206      588.0
  Value (mils.) (Sept.)            $88.7      591.3
Building contracts (mils)
  Residential (Sept.)             $410.0      -47.7
  Nonresidential (Sept.)          $545.8      -19.0
Building permits (mils.)
  Residential (Sept.)             $432.3      -47.7
  Nonresidential (Sept.)          $545.8      -19.0
Housing start permits (Aug.)       2,644      -33.1
Home sales (Sept.)                 6,061      -46.6
Home prices (000's) (Sept.)       $550.0#      +5.5#
Condo sales (Sept.)                1,463      -29.6
Condo prices (000's) (Sept.)      $410.0#      +8.8#
Apartments (3rd qtr.)
  Gross occupancy                  95.8%       -0.84
  Avg. sq. ft. rent                $1.85       +5.9
  Avg. monthly rent               $1,597       +5.4
Office vacancy rates
    (3rd qtr.)
  Downtown L.A.                    14.3%      -12.6
  San Fernando Valley              6.0        +30.0
  West L.A.                        7.6        -25.0
  South Bay                       14.6        -16.4
  Countywide                       9.7         -5.2
Industrial vacancy
    rates (3rd qtr.)
  Downtown/Central                 1.1%        36.4
  South Bay                        2.2        -18.2
  San Gabriel Valley               1.1        +72.8

TOURISM                            Year     % + from
                                    ago     year ago

Hotel occupancy rate (Aug.)        81.6%       +3.5
Room fate (Aug.)                 $147.8        +8.9
Passengers
  LAX (000's) (July)            5,919.7        +0.5
  Burbank Airport                 505.7        +6.9
    (000's) (July)

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 refinancing, second mortgages
and equity mortgages

Note: BOLDFACE INDICATES UPDATED FIGURES is 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).

--Gabriela Gonzalez