Econowatch L.A. county.

ECONOWATCH
L.A. COUNTY

GENERAL                                     Latest       Previous
INDICATORS                                  period         period

Employment (000's) (Dec) (1)                 4,465          4,459
Unemployment (000's) (Dec.) (1)                292            319
Help-wanted ads index (Dec.)                    17             17
Jobless-to-job ad ratio (Dec.) (2)            17.1           18.8
Film Production Days (Nov.) (3)              2,675          2,812

Bankruptcies
Chapter 7 (Nov.)                             2,369          3,413
Chapter 11 (Nov.)                               12             22

Exports (mils.) (Nov.)                    $6,025.8       $6,253.2
Imports (mils.) (Nov.)                   $15,104.2      $16,640.8
Air cargo (5)
  LAX (Dec.)                                 173.8          171.3
  Burbank (Nov.)                               3.8            4.4
Container volume (6) (000's)
  Long Beach (Nov.)                          424.9          436.8
  Los Angeles (Nov.)                         627.8          671.1
Los Angeles CPI (Dec.)                       187.0#         187.1#
Electricity Accounts (000's) (8)
  Residential (Jan.)                       1,227.9#       1,226.7#
  Commercial (Jan.)                          119.1#         119.3#
  Industrial (Jan.)                           14.7#          14.8#


                                            Latest       Previous
REAL ESTATE                                 period         period

Construction lending (mils.) (Dec.)         $606.8#        $293.2#
Property acquisition lending
 (mils.) (9) (Dec.)                       $4,672.5#      $3,875.8#
Refinance lending (mils.) (Dec.) (10)    $10,007.1#      $9,253.3#

Foreclosures
  Number (Dec.)                                191#           148#
  Value (mils.) (Dec.)                       $57.5#         $35.4#
Building contracts (mils.)
  Residential (Nov.)                        $296.7         $244.3
  Nonresidential (Nov.)                     $346.7         $171.9
Building permits (mils.)
  Residential (Nov.)                        $364.6         $570.7
  Nonresidential (Nov.)                     $183.6         $268.9
Housing start permits (Nov.)                 1,236          2,792
Home sales (Dec.)                            8,116#         6,916#
Home prices (000's) (Dec.)                    $358#          $350#
Condo sales (SDec.)                          2,074#         1,801#
Condo prices (000's) (Dec.)                 $280.5#          $285#
Apartments (4th qtr.)
  Gross occupancy                            96.1%          96.7%
  Avg. sq. ft. rent                          $1.49          $1.51
  Avg. monthly rent                         $1,259         $1,290
Office vacancy rates (4th qtr.)
  Downtown L.A.                              19.6%          19.9%
  San Fernando Valley                         12.8           12.8
  West L.A.                                     17           15.4
  South Bay                                   19.6           19.4
  Countywide                                  16.2           15.8
Industrial vacancy rates (4th qtr.)
  Downtown/Central                            1.9%           1.8%
  South Bay                                    4.0            3.4
  San Gabriel Valley                           2.3            2.2

                                            Latest       Previous
TOURISM                                      month          month

Hotel occupancy rate (Oct.)                  73.9%          68.5%
Room rate (Oct.)                           $114.57        $110.56
Passengers
  LAX (000's) (Dec.)                         4,853        4,389.9
  Burbank Airport (000's) (Nov.)             384.4          391.6

                                           % - from
GENERAL                                    previous          Year
INDICATORS                                   period           ago

Employment (000's) (Dec) (1)                   +.1%         4,428
Unemployment (000's) (Dec.) (1)               -8.5            289
Help-wanted ads index (Dec.)                   0               22
Jobless-to-job ad ratio (Dec.) (2)            -9             13.1
Film Production Days (Nov.) (3)               -4.9          2,267

Bankruptcies
Chapter 7 (Nov.)                             -30.6          3,209
Chapter 11 (Nov.)                            -45.5             21

Exports (mils.) (Nov.)                        -3.6       $5,146.4
Imports (mils.) (Nov.)                        -9.2      $14,273.6
Air cargo (5)
  LAX (Dec.)                                  +1.5            161
  Burbank (Nov.)                             -13.6            3.5
Container volume (6) (000's)
  Long Beach (Nov.)                           -2.7          335.1
  Los Angeles (Nov.)                          -6.5            546
Los Angeles CPI (Dec.)                        -0.5#         183.7#
Electricity Accounts (000's) (8)
  Residential (Jan.)                           +.1#       1,221.1#
  Commercial (Jan.)                            -.2#         119.1#
  Industrial (Jan.)                            -.7#          14.9#

                                         % + from
                                         previous            Year
REAL ESTATE                                period             ago

Construction lending (mils.) (Dec.)         +107%#         $389.2#
Property acquisition lending
 (mils.) (9) (Dec.)                          +20.6#      $3,107.1#
Refinance lending (mils.) (Dec.) (10)         +8.1#     $11,129.8#

Foreclosures
  Number (Dec.)                              +29.1#           378#
  Value (mils.) (Dec.)                       +62.4#         $71.4#
Building contracts (mils.)
  Residential (Nov.)                         +21.4         $160.9
  Nonresidential (Nov.)                     +101.7         $207.1
Building permits (mils.)
  Residential (Nov.)                         -36.1         $365.1
  Nonresidential (Nov.)                      -31.7         $225.7
Housing start permits (Nov.)                 -55.7          1,400
Home sales (Dec.)                            +17.4#         7,195#
Home prices (000's) (Dec.)                    +2.3#        $291.5#
Condo sales (SDec.)                          +15.2#         1,848#
Condo prices (000's) (Dec.)                   -1.6#          $266#
Apartments (4th qtr.)
  Gross occupancy                             NA              96%
  Avg. sq. ft. rent                           -1.3           $1.4
  Avg. monthly rent                           -2.4         $1,173
Office vacancy rates (4th qtr.)
  Downtown L.A.                               NA            19.6%
  San Fernando Valley                         NA             15.3
  West L.A.                                   NA             15.8
  South Bay                                   NA             19.0
  Countywide                                  NA             16.7
Industrial vacancy rates (4th qtr.)
  Downtown/Central                            NA             2.5%
  South Bay                                   NA              2.7
  San Gabriel Valley                          NA              4.7

                                         % + from
                                         previous            Year
TOURISM                                     month             ago

Hotel occupancy rate (Oct.)                   NA            70.3%
Room rate (Oct.)                              +3.6%       $115.58
Passengers
  LAX (000's) (Dec.)                         +10.6        4,855.7
  Burbank Airport (000's) (Nov.)              -1.8            378

GENERAL                                   %+ from
INDICATORS                               year ago

Employment (000's) (Dec) (1)                   +.7%
Unemployment (000's) (Dec.) (1)               +1
Help-wanted ads index (Dec.)                 -22.7
Jobless-to-job ad ratio (Dec.) (2)           +30.5
Film Production Days (Nov.) (3)              +18

Bankruptcies
Chapter 7 (Nov.)                             -26.2
Chapter 11 (Nov.)                            -42.9

Exports (mils.) (Nov.)                       -17
Imports (mils.) (Nov.)                        +5.8
Air cargo (5)
  LAX (Dec.)                                  +8
  Burbank (Nov.)                              +8.6
Container volume (6) (000's)
  Long Beach (Nov.)                          +26.8
  Los Angeles (Nov.)                         +15
Los Angeles CPI (Dec.)                        +1.8#
Electricity Accounts (000's) (8)
  Residential (Jan.)                           +.6#
  Commercial (Jan.)                            0#
  Industrial (Jan.)                           -1.3#

                                            %+ from
REAL ESTATE                                year ago

Construction lending (mils.) (Dec.)          +55.9%#
Property acquisition lending
 (mils.) (9) (Dec.)                          +50.4#
Refinance lending (mils.) (Dec.) (10)        -10.1#

Foreclosures
  Number (Dec.)                              -49.5#
  Value (mils.) (Dec.)                       -19.5#
Building contracts (mils.)
  Residential (Nov.)                         +84.4
  Nonresidential (Nov.)                      +67.4
Building permits (mils.)
  Residential (Nov.)                           -.1
  Nonresidential (Nov.)                      -18.7
Housing start permits (Nov.)                 -11.7
Home sales (Dec.)                            +12.8#
Home prices (000's) (Dec.)                   +22.8#
Condo sales (SDec.)                          +14.6#
Condo prices (000's) (Dec.)                   +5.5#
Apartments (4th qtr.)
  Gross occupancy                             NA
  Avg. sq. ft. rent                           +4.9
  Avg. monthly rent                           +7.3
Office vacancy rates (4th qtr.)
  Downtown L.A.                               NA
  San Fernando Valley                         NA
  West L.A.                                   NA
  South Bay                                   NA
  Countywide                                  NA
Industrial vacancy rates (4th qtr.)
  Downtown/Central                            NA
  South Bay                                   NA
  San Gabriel Valley                          NA

                                           %+ from
TOURISM                                   year ago

Hotel occupancy rate (Oct.)                   NA
Room rate (Oct.)                               -.9%
Passengers
  LAX (000's) (Dec.)                          -0.4
  Burbank Airport (000's) (Nov.)              -1.7

FOOTNOTES

(1.) Not seasonally adjusted.

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

(3.) Film production days

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

Note: Updated figures indicated with #.