Econowatch L.A. County.

ECONOWATCH L.A. COUNTY

GENERAL INDICATORS

                                                           % - from
                                        Latest   Previous  previous
                                        period     period    period

Employment (000's) (Jan.) (1)            4,406      4,604        -4.3%
Unemployment (000's) (Jan.)                301        281        +7.1
Help-wanted ads index (Dec.)                22         20       +10.0
Jobless-to-job ad ratio (Sept.) (2)         46         47        -1.9
Film permits (Jan.) (3)                  2,142      1,957        +1.1

Bankruptcies
Chapter 7 (Dec.)                         3,330      3,179        +4.7
Chapter 11 (Dec.)                           16         21       -23

Export (mils.) (Oct.) (4)             $4,887.4   $5,169.7        -5.5
Imports (mils.) (Oct.) (4)           $12,758.1  $13,556.6        -5.9
Air cargo (5)
  LAX (Oct.)                             202.7      159.6       +27
Burbank (Sept.)                            3.3        4.3       -23
Container volume (6) (000's)
  Long Beach (Jan.)                      334.3      361.9        -7.6
  Los Angeles (Jan.)                     518.5      566.7        -8.5
Los Angeles CPI (Jan.) (7)               185.2      183.7        +0.8
Electricity Accounts (000's) (8)
  Residential (Jan.)                   1,222.5    1,219.6        +0.2
  Commercial (Jan.)                      173.5      176.2        -1.5
  Industrial (Jan.)                       15.1       14.6        +3.4


                                          year    % + from
                                           ago    year ago

Employment (000's) (Jan.) (1)            4,673          -5.7%
Unemployment (000's) (Jan.)                312          -3.5
Help-wanted ads index (Dec.)                20         +10
Jobless-to-job ad ratio (Sept.) (2)         67         -31.4
Film permits (Jan.) (3)                  1,986          +7.8

Bankruptcies
Chapter 7 (Dec.)                         3,313          +0.5
Chapter 11 (Dec.)                           31         -48

Export (mils.) (Oct.) (4)               $5,688.8       -14.1
Imports (mils.) (Oct.) (4)             $13,778.7        -7.5
Air cargo (5)
  LAX (Oct.)                               167.6       +20
Burbank (Sept.)                              2.3       +43
Container volume (6) (000's)
  Long Beach (Jan.)                        344.6        -3
  Los Angeles (Jan.)                       408.2       +27
Los Angeles CPI (Jan.) (7)                 180.4        +2.6
Electricity Accounts (000's) (8)
  Residential (Jan.)                     1,215.5        +0.6
  Commercial (Jan.)                        175          -0.8
  Industrial (Jan.)                         15.5        -2.5

REAL ESTATE

                                                             % + from
                                           Latest  Previous  previous
                                           period    period    period

Construction lending (mils.) (Dec.)        $389.1    $309.9       25%
Property acquisition lending (mils.) (9)   $2,587    $2,542       1.7
 (Dec.)
Refinance lending (mils.) (Dec.) (10)     $11,129   $10,682       4.1

Foreclosures
 Number (Dec.)                                373       391      -4.6
 Value (mils.) (Dec.)                         $71       $63     +12.6
Building contracts (mils.)
 Residential (Dec.)                        $185.4    $146.7     +26.3
 Nonresidential (Dec.)                     $160.8    $286.4     -26.6
Building permits (mils.)
 Residential (Dec.)                        $274.1      $363     -24.4
 Nonresidential (Dec.)                     $180.1    $229.3     -21.4
Housing start permits (Dec.)                1,002     1,399     -28.3
Home sales (Dec.)                           6,558     5,901     +11.1
Home prices (000's) (Dec.)                   $295      $299      -1.3
Condo sales (Dec.)                          1,796     1,630     +10.1
Condo prices (000's) (Dec.)                  $225      $224      +0.4

Apartments (2nd qtr.)
 Gross occupancy                            96.9%     96.0%        NA
 Avg. sq. ft. rent                          $1.41     $1.39      +1.4
 Avg. monthly rent                         $1,190    $1,172      +1.5
Office vacancy rates (4th qtr.) (11)
 Downtown L.A.                              19.6%     18.5%        NA
 San Fernando Valley                        15.3%     15.3%        NA
 West L.A.                                  15.8%     15.4%        NA
 South Bay                                  18.9%     19.5%        NA
 Countywide                                 16.7%     16.5%        NA

Industrial vacancy rates (4th qtr.) (11)
 Downtown/Central                            2.5%      2.7%        NA
 South Bay                                   4.5%      4.6%        NA
 San Gabriel Valley                          2.7%      2.4%        NA


                                            Year   % + from
                                             ago   year ago

Construction lending (mils.) (Dec.)       $153.9     +152%
Property acquisition lending (mils.) (9)  $2,164       19.5
 (Dec.)
Refinance lending (mils.) (Dec.) (10)     $7,906        40

Foreclosures
 Number (Dec.)                               682       -45
 Value (mils.) (Dec.)                       $123       -42
Building contracts (mils.)
 Residential (Dec.)                       $364.6       -49.2
 Nonresidential (Dec.)                    $331.0       -51.4
Building permits (mils.)
 Residential (Dec.)                       $296.9        -7.6
 Nonresidential (Dec.)                    $265.8       -32.2
Housing start permits (Dec.)               1,672       -40
Home sales (Dec.)                          5,486       +19.5
Home prices (000's) (Dec.)                  $248       +19
Condo sales (Dec.)                         1,591       +12.8
Condo prices (000's) (Dec.)                 $178       +26.4

Apartments (2nd qtr.)
 Gross occupancy                           97.7%        NA
 Avg. sq. ft. rent                         $1.37        +2.9
 Avg. monthly rent                        $1,130        +5.3
Office vacancy rates (4th qtr.) (11)
 Downtown L.A.                             17.8%        NA
 San Fernando Valley                       15.5%        NA
 West L.A.                                 13.6%        NA
 South Bay                                 16.9%        NA
 Countywide                                15.0%        NA

Industrial vacancy rates (4th qtr.) (11)
 Downtown/Central                           2.6%        NA
 South Bay                                  4.5%        NA
 San Gabriel Valley                         3.5%        NA

TOURISM

                                                   % + from
                                 Latest  Previous  previous      Year
                                  month     month     month       ago

Hotel occupancy rate (Dec.)       57.2%     64.9%      -11.9    51.5%
Room rate (Dec.)                $103.84   $109.69     -5.3%   $106.25
Passengers
 LAX (000's) (Jan.)               4,497     4,536      -0.9     4,201
Burbank Airport (000's) (Dec.)      403       378      +6.6       344
FOOTNOTES


                                 % + from
                                 year ago

Hotel occupancy rate (Dec.)         +11%
Room rate (Dec.)                   -2.3%
Passengers
 LAX (000's) (Jan.)                   +7
Burbank Airport (000's) (Dec.)
FOOTNOTES

(1)Not seasonally adjusted.

(2)Thousands of jobles to index point of job ads.

(3)Film production days

(4)Through Los Angeles Custom 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/FP Research Inc. (apartments);
Grubb & Ellis (office and industrial vacancy rates); PKF Consulting
(hotel occupancy rate, room rate).