Econowatch L.A. County.

ECONOWATCH L.A. COUNTY

GENERAL INDICATORS

                                                       % - from
                                  Latest   Previous    previous
                                  period     period      period

Employment (000's) (Oct.)          4,596      4,557        +0.9%
Unemployment (000's) (Oct.)          289        275        +5.1
Help-wanted ads index (Sept.)         12         24       -50.0
Jobless-to-jab ad ratio             11.8       11.5        +2.6
 (Nov.) (1)
Film permits (Nov.) (2)            1,502      1,897       -20.8
Bankruptcies
 Chapter 7 (Oct.)                  3,556      2,790       +27.5
 Chapter 11 (Oct.)                    93         13      +615.4
Exports (mils.) (Sept.) (3)     $5,336.5   $5,638.9        -5.4
Imports (mils.) (Sept.)        $12,351.0  $12,544.4        -1.5
Air cargo (4)
 LAX (Oct.)                        167.6      141.4       +18.5
 Burbank (Oct.)                      2.6        2.3       +13.0
Container volumes (5) (000's)
 Long Beach (Sept.)                388.4      405.9        -0.4
 Los Angeles (Sept.)               484.4      477.1        +1.5
Los Angeles CPI (Aug.)             178.4      178.3        -0.1
Electricity Accounts
 (000's) (6)
 Residential (Oct.) (7)          1,213.8     1211.2        +0.2
 Commercial (Oct.)                 177.5      173.7        +2.2
 Industrial (Oct.)                  15.4       15.5        -0.6


                                   Year   %+ from
                                    ago  year ago

Employment (000's) (Oct.)         4,542      +1.2%
Unemployment (000's) (Oct.)         251     +15.1
Help-wanted ads index (Sept.)        32     -63.0
Jobless-to-jab ad ratio             6.5     +81.5
 (Nov.) (1)
Film permits (Nov.) (2)           2,487     -39.6
Bankruptcies
 Chapter 7 (Oct.)                 3,225     +10.3
 Chapter 11 (Oct.)                   30     210.0
Exports (mils.) (Sept.) (3)    $6,684.5     -20.2
Imports (mils.) (Sept.)        13,587.2      -9.1
Air cargo (4)
 LAX (Oct.)                       204.9     -18.2
 Burbank (Oct.)                     3.2     -18.8
Container volumes (5) (000's)
 Long Beach (Sept.)               387.6      +0.2
 Los Angeles (Sept.)              422.1     +14.8
Los Angeles CPI (Aug.)            172.2      +3.6
Electricity Accounts
 (000's) (6)
 Residential (Oct.) (7)         1,208.5      +0.4
 Commercial (Oct.)                176.4      +0.6
 Industrial (Oct.)                 15.7      -1.9
REAL ESTATE

                                                   %+ from
                                Latest  previous  Previous      Year
                                period    period    period       ago

Construction lending (mils.)    $233.1    $405.2     42.5%    $249.1
 (Sept.)
Property acquisition lending  $2,531.6  $3,056.3     -17.2  $2,361.6
(mils.) (Sept.)
Refinance lending (mils.)     $4,588.6  $5,305.9     -13.5  $1,632.2
 (Sept.) (8)
Foreclosures
 Number (Sept.)                    602       743     -19.0       748
 Value (mils.) (Sept.)          $105.6    $122.4     -13.7    $121.6
Building contracts (mils.)
 Residential (Oct.)             $166.6    $156.8      +6.3    $198.5
 Nonresidential (Oct.)          $390.3    $263.5     +48.1    $313.4
Building permits (mils.)
 Residential (Oct.)             $363.5    $209.8     +73.3    $269.1
 Nonresidenital (Oct.)          $264.3    $206.9     +27.7    $261.9
Housing start permits (Oct.)     1,685       729    +131.1       902
Home sales (Sept.)               8,644     9,486      -8.9     7,391
Home prices (000's) (Sept.)     $231.0    $230.0      +0.4    $214.0
Condo sales (Sept.)              1,537     2,009     -23.5     1,459
Condo prices (000's) (Sept.)    $187.0    $185.0      +1.1    $175.0
Apartments (3rd qtr.)
 Gross occupancy                   97%     97.7%        NA     98.6%
 Avg. sq. ft. rent               $1.39     $1.37      +1.5     $1.30
 Avg. monthly rent              $1,173    $1,130      +3.8    $1,089
Office vacancy rates (3rd
 qtr.) (10)
 Downtown L.A.                   17.5%     19.1%        NA     22.4%
 San Fernando Valley             12.8%     11.6%        NA     10.9%
 West L.A.                       11.6%     11.2%        NA      5.8%
 South Bay                       16.2%     14.2%        NA     11.8%
 Countywide                      14.6%     13.7%        NA     12.3%
Industrial vacancy rates
 (3rd qtr.)
 Downtown/Central                 2.0%      1.4%        NA      3.6%
 South Bay                        4.6%      4.5%        NA      3.3%
 San Gabriel Valley               3.6%      3.8%        NA      3.6%


                              % + from
                              year ago

Construction lending (mils.)     -6.4%
 (Sept.)
Property acquisition lending      +7.2
(mils.) (Sept.)
Refinance lending (mils.)       +181.1
 (Sept.) (8)
Foreclosures
 Number (Sept.)                  -19.5
 Value (mils.) (Sept.)           -13.2
Building contracts (mils.)
 Residential (Oct.)              -16.1
 Nonresidential (Oct.)           +24.5
Building permits (mils.)
 Residential (Oct.)              +35.1
 Nonresidenital (Oct.)             +.9
Housing start permits (Oct.)     +86.8
Home sales (Sept.)               +17.0
Home prices (000's) (Sept.)       +7.9
Condo sales (Sept.)               -5.3
Condo prices (000's) (Sept.)      +6.9
Apartments (3rd qtr.)
 Gross occupancy                    NA
 Avg. sq. ft. rent                +5.3
 Avg. monthly rent                +7.7
Office vacancy rates (3rd
 qtr.) (10)
 Downtown L.A.                      NA
 San Fernando Valley                NA
 West L.A.                          NA
 South Bay                          NA
 Countywide                         NA
Industrial vacancy rates
 (3rd qtr.)
 Downtown/Central                   NA
 South Bay                          NA
 San Gabriel Valley                 NA
TOURISM

                                                   % + from
                                 Latest  Previous  previous     Year
                                  month     month     month      ago

Hotel occupancy rate (Oct.)      60.30%    58.28%        NA    79.9%
Room rate (Oct.)                $111.96   $108.26     -3.4%  $121.73
Passengers
  LAX (000's) (Oct.)            3,934.5   3,589.6      +9.6  5,829.0
Burbank Airport (000's) (Oct.)    347.1     251.5     -38.0    405.9


                                  %+from
                                year ago

Hotel occupancy rate (Oct.)           NA
Room rate (Oct.)                   -8.0%
Passengers
  LAX (000's) (Oct.)               -32.5
Burbank Airport (000's) (Oct.)     -14.5

FOOTNOTES

(1.)Thousands of jobless to index point of job ads.

(2.)Film production days

(3.)Through Los Angeles Customs District.

(4.)In thousands of tons (LAX).

(5.)20-foot equivalent unit.

(6.)1982-1984=100.

(7.)San Fernando Valley and metropolitan L.A. combined

(8.)Apartment and residential combined

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

(10.)Based on a survey by Grubb & Ellis Co. Excludes available sublease
space NA means not applicable

BOLDFACE INDICATES UPDATED FIGURES

Source: 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).

Conor Dougherty