Econowatch L.A. county.

ECONOWATCH
L.A. COUNTY

                                                            % - from
GENERAL                              Latest     Previous    previous
INDICATORS                           period       period      period

Employment (000's) (May) (1)#      4,656.6#     4,642.1#       +0.3#
Unemployment (000's)                 237.8#       217.8#       +9.2#
  (May) (1)#
Help-wanted ads index (April)            7           11       -36.4
Jobless-to-job ad ratio               31.1         21.4       +45.3
  (April) (2)
Film Production Days                 9,278        8,644        +7.3
  (1st qtr.)

Bankruptcies
Chapter 7 (May)                        534          484      +10.3
Chapter 11 (May)                        10            8      +25.0
Exports (mils.) (April)#          $7,292.6#    $8,104.4#      -10.0#
Imports (mils.) (April)#         $18,887.2#   $19,127.5#       -1.3#

Air cargos (5)
  LAX (April)                        171.1        193.4       -11.2
  Burbank (April)                      9.7         11.0       -11.8
Container volumes (6) (000's)
  Long Beach (May)                   644.1        619.5       +4.0
  Los Angeles (May)                  696.0        673.4       +3.4
Los Angeles CPI (May)                212.4        210.5       +0.90

Electricity Accounts
    (000's) (8)
  Residential (May)#               1,243.4#     1,241.2#       +0.2#
  Commercial (May)#                  179.7#       182.3#       -1.4#
  Industrial (May)#                   14.0#        13.9#       +0.7#

GENERAL                              Year     % + from
INDICATORS                            ago     year ago

Employment (000's) (May) (1)#      4,544.7#       +2.5#
Unemployment (000's)                 249.4#       -4.7#
  (May) (1)#
Help-wanted ads index (April)            9       -22.2
Jobless-to-job ad ratio               28.1       +10.7
  (April) (2)
Film Production Days                 8,909        +4.1
  (1st qtr.)

Bankruptcies
Chapter 7 (May)                      2,839       -81.2
Chapter 11 (May)                         9        11.1
Exports (mils.) (April)#          $6,242.4#       16.8#
Imports (mils.) (April)#         $17,309.8#        9.1#

Air cargos (5)
  LAX (April)                        164.8        +4.2
  Burbank (April)                      8.2       +18.3
Container volumes (6) (000's)
  Long Beach (May)                   564.9       +14.0
  Los Angeles (May)                  610.6       +14.0
Los Angeles CPI (May)                201.5        +5.4

Electricity Accounts
    (000's) (8)
  Residential (May)#               1,238.7#       +0.4#
  Commercial (May)#                  177.8#       +1.1#
  Industrial (May)#                   14.0#       +0.0#

                                                           % - from
                                    Latest     Previous    previous
REAL ESTATE                         period       period      period

Construction lending (mils.)        $752.6       $694.2        +8.4
  (March)
Property acquisition lending      $6,662.5     $4,236.7       +57.3
  (mils.) (9) (March)
Refinance lending (mils.)        $11,132.6     $8,621.2       +29.1
  (March) (10)

Foreclosures
  Number (March)                       106           71       +49.3
  Value (mils.) (March)              $46.5        $60.1       -22.6
Building contracts (mils.)
  Residential (May) #               $513.5#      $747.9#      -31.3#
  Nonresidential (May) #            $928.3#      $454.4#     +104.3#
Building permits (mils.)
Residential (April)                  555.1        630.1       -12.5
Nonresidential (April)               240.6        377.5       -36.3
Housing start permits (April)        2,015        2,489       -19.0
Home sales (May)                     8,949        7,159       +25.0
Home prices (000's) (May)           $550.0       $545.0        +0.9
Condo sales (May)                  2,473.0      1,961.0       +26.1
Condo prices (000's) (May)          $415.0       $415.0           0
Apartments (1st qtr.)
  Gross occupancy                    97.5%        97.2%          NA
  Avg. sq. ft. rent                  $1.69        $1.68        +0.6
  Avg. monthly rent                 $1,420       $1,416        +0.3
Office vacancy rates (1st qtr.)
  Downtown L.A.                      15.0%        14.9%          NA
  San Fernando Valley                  7.0          7.8          NA
  West L.A.                            8.0          9.8          NA
  South Bay                           16.1         17.3          NA
  Countywide                          12.2         11.2          NA
Industrial vacancy rates
    (1st qtr.)
  Downtown/Central                    1.4%         1.3%          NA
  South Bay                            2.5          2.8          NA
  San Gabriel Valley                   1.9          1.6          NA

                                     Year     % + from
REAL ESTATE                           ago     year ago

Construction lending (mils.)        $478.8       +57.2
  (March)
Property acquisition lending      $5,970.3       +11.6
  (mils.) (9) (March)
Refinance lending (mils.)        $12,744.8       -12.6
  (March) (10)

Foreclosures
  Number (March)                        54       +96.3
  Value (mils.) (March)              $23.4       +98.7
Building contracts (mils.)
  Residential (May)#                $452.8#      +13.4#
  Nonresidential (May)#             $430.5#     +115.6#
Building permits (mils.)
Residential (April)                  556.3        -0.2
Nonresidential (April)               378.2       -36.4
Housing start permits (April)        2,003        +0.6
Home sales (May)                    10,825       -17.3
Home prices (000's) (May)           $475.0       +15.8
Condo sales (May)                  2,591.0        -4.6
Condo prices (000's) (May)          $385.0        +7.8
Apartments (1st qtr.)
  Gross occupancy                    97.0%          NA
  Avg. sq. ft. rent                  $1.59        +6.3
  Avg. monthly rent                 $1,327        +7.0
Office vacancy rates (1st qtr.)
  Downtown L.A.                      17.8%          NA
  San Fernando Valley                  8.9          NA
  West L.A.                           14.8          NA
  South Bay                           20.4          NA
  Countywide                          14.0          NA
Industrial vacancy rates
    (1st qtr.)
  Downtown/Central                    1.1%          NA
  South Bay                            2.5          NA
  San Gabriel Valley                   1.5          NA

                                                            % - from
                                     Latest     Previous    previous
TOURISM                              period       period      period

Hotel occupancy rate (April) #       76.7%#       80.8%#         NA#
Room rate (April) #                $141.99#      $145.7#       -2.5#
Passengers
  LAX (000's) (April)              5,096.9      5,090.3           0
  Burbank Airport (000's)            473.1        463.3        +2.1
  (April)

                                       Year    % + from
TOURISM                                 ago    year ago

Hotel occupancy rate (April)#        76.0%#        NA#
Room rate (April)#                  $131.8#      +7.7#
Passengers
  LAX (000's) (April)              4,896.2        +4.1
  Burbank Airport (000's)            443.9        +6.6
  (April)

FOOTNOTES

(1.) Not seasonally adjusted.

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

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

(4.) Through Los Angeles Customs District.

(5.) In thousands of tons.

(6.) 20-foot equivalent unit.

(7.) 1982-1984=100.

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

(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/PF Research Inc.
(apartments); Grubb & Ellis (office and industrial vacancy rates);
PKF Consulting (hotel occupancy rate, room rate).

Note: Boldface indicated with # updated figures.