Econowatch L.A. county.

ECONOWATCH
L.A. COUNTY

GENERAL
INDICATORS

                                                               % - from
                                        Latest     Previous    previous
                                        period       period      period

Employment (000's) (Aug.) (1)            4,649        4,626       +0.5%
Unemployment (000's) (Aug.) (1)            244          280      -12.9
Help-wanted ads index (Aug.)                12           11       +9.1
Jobless-to-job ad ratio (Aug.)
  (2)                                     20.3         25.5      -20.4
Film Production Days (June) (3)          2,645        2,779       -4.8
Bankruptcies
Chapter 7 (Aug.)                         3,647        2,728      +33.7
Chapter 11 (Aug.)                           14            6     +133.3
Exports (mils.) (June)                $6,597.2     $6,667.6       -1.0
Imports (mils.) (June)               $18,567.8    $17,229.8       +7.7
Air cargo (5)
  LAX (Aug.)                             171.9        189.5       -9.3
  Burbank (July)                           4.2          4.7      -10.6
Container volume (6) (000's)
  Long Beach (Aug.)                      615.4        573.3       +7.3
  Los Angeles (Aug.)                     651.6        648.4       +0.5
Los Angeles CPI (Aug.)                   203.1        201.4       +0.8
Electricity Accounts (000's) (8)
  Residential (Aug.)                   1,234.3      1,238         -0.3
  Commercial (Aug.)                      122.5        122.4       +0.1
  Industrial (Aug.)                       14.1         13.9       +1.4

                                       Year       % + from
                                        ago       year ago

Employment (000's) (Aug.) (1)            4,487        +3.6%
Unemployment (000's) (Aug.) (1)            317       -23
Help-wanted ads index (Aug.)                14       -14.3
Jobless-to-job ad ratio (Aug.)
  (2)                                     22.6       -10.2
Film Production Days (June) (3)          2,706        -2.3
Bankruptcies
Chapter 7 (Aug.)                         2,788       +30.8
Chapter 11 (Aug.)                           37       -62.2
Exports (mils.) (June)                  $6,115        +7.9
Imports (mils.) (June)               $17,019.3        +9.1
Air cargo (5)
  LAX (Aug.)                             172.1        -0.1
  Burbank (July)                             4        +5
Container volume (6) (000's)
  Long Beach (Aug.)                      520.9       +18.1
  Los Angeles (Aug.)                     627.4        +3.9
Los Angeles CPI (Aug.)                   193.1        +5.2
Electricity Accounts (000's) (8)
  Residential (Aug.)                   1,230.7        +0.3
  Commercial (Aug.)                      121.7        +0.7
  Industrial (Aug.)                       14.2        -0.7

REAL ESTATE

                                        Latest      Previous
                                        period        period

Construction lending (mils.)
  (June)                                $639.2        $538.7
Property acquisition lending
  (mils.) (9) (June)                  $7,157.4      $5,889
Refinance lending (mils.) (June)
  (10)                               $12,539.9     $10,272.5
Foreclosures
  Number (June)                             60            44
  Value (mils.) (June)                   $26.1         $19.5
Building contracts (mils.)
  Residential (Aug.)                    $591.5        $378.4
  Nonresidential (Aug.)                 $443.3        $434.3
Building permits (mils.)
  Residential (Aug)                     $665.4        $521.3
  Nonresidential (Aug)                  $318.0        $248.9
Housing start permits (Aug)              2,369         2,045
Home sales (June)                        8,828         7,448
Home prices (000's) (June)                $500          $480
Condo sales (June)                       2,336         1,982
Condo prices (000's) (June)               $390          $384
Apartments (1st qtr.)
  Gross occupancy                          97%         96.8%
  Avg. sq. ft. rent                      $1.59         $1.55
  Avg. monthly rent                     $1,327        $1,300
Office vacancy rates (3rd qtr.)#
  Downtown L.A#                          15.6%#        15.9%#
  San Fernando Valley#                    7.8#          8.1#
  West L.A.#                              9.8#         11.6#
  South Bay#                             18.5#         20.1#
  Countywide#                            12.1#         12.9#
Industrial vacancy rates (2nd qtr.)#
Downtown/Central#                         1%#           1%#
South Bay#                                2.2#          2.2#
San Gabriel Valley#                       1.2#          1.2#

                                      % + from
                                      previous       Year
                                        period        ago

Construction lending (mils.)
  (June)                                +18.7%       $467.4
Property acquisition lending
  (mils.) (9) (June)                    +21.5      $5,757.8
Refinance lending (mils.) (June)
  (10)                                  +22.1     $11,195.2
Foreclosures
  Number (June)                         +36.4           108
  Value (mils.) (June)                  +33.8         $30.7
Building contracts (mils.)
  Residential (Aug.)                    +56.3        $493.8
  Nonresidential (Aug.)                  +2.1        $493.8
Building permits (mils.)
  Residential (Aug)                     -27.6        $370.5
  Nonresidential (Aug)                  +15.8        $1,898
Housing start permits (Aug)             -20.5         1,794
Home sales (June)                       +18.5         7,686
Home prices (000's) (June)               +4.2          $440
Condo sales (June)                      +17.9         2,217
Condo prices (000's) (June)              +1.6          $348
Apartments (1st qtr.)
  Gross occupancy                        NA           96.2%
  Avg. sq. ft. rent                      +2.6         $1.52
  Avg. monthly rent                      +2.1        $1,271
Office vacancy rates (3rd qtr.)#
  Downtown L.A#                          NA#        19.4%#
  San Fernando Valley#                   NA#        10#
  West L.A.#                             NA#        15.3#
  South Bay#                             NA#        19.3#
  Countywide#                            NA#        15#
Industrial vacancy rates (2nd qtr.)#
Downtown/Central#                        NA#         1.6%#
South Bay#                               NA#         2.7#
San Gabriel Valley#                      NA#         1.5#

                                     % + from
                                     year ago

Construction lending (mils.)
  (June)                               +36.8%
Property acquisition lending
  (mils.) (9) (June)                   +24.3
Refinance lending (mils.) (June)
  (10)                                 +12
Foreclosures
  Number (June)                        -44.4
  Value (mils.) (June)                 -15
Building contracts (mils.)
  Residential (Aug.)                   +19.8
  Nonresidential (Aug.)                -10.2
Building permits (mils.)
  Residential (Aug)                    -14.2
  Nonresidential (Aug)                 +24.8
Housing start permits (Aug)             +6.7
Home sales (June)                      +14.9
Home prices (000's) (June)             +13.6
Condo sales (June)                      +5.4
Condo prices (000's) (June)            +12.1
Apartments (1st qtr.)
  Gross occupancy                         NA
  Avg. sq. ft. rent                     +4.6
  Avg. monthly rent                     +4.4
Office vacancy rates (3rd qtr.)#
  Downtown L.A#                           NA#
  San Fernando Valley#                    NA#
  West L.A.#                              NA#
  South Bay#                              NA#
  Countywide#                             NA#
Industrial vacancy rates (2nd qtr.)#
Downtown/Central#                         NA#
South Bay#                                NA#
San Gabriel Valley#                       NA#

TOURISM
                                                             % + from
                                      Latest     Previous    previous
                                       month        month       month

Hotel occupancy rate (Aug.)#           83.5%#      82.4%#         NA#
Room rate (Aug.)#                    $129.31#    $127.53#       +1.4#
Passengers
  LAX (000's) (Aug.)                 5,918.7     5,993.4        -1.2
  Burbank Airport (000's) (July)       498.2       477.6        +4.3

                                      Year       % + from
                                       ago       year ago

Hotel occupancy rate (Aug.)#           81.4%#         NA#
Room rate (Aug.)#                    $120.37#       +7.4#
Passengers
  LAX (000's) (Aug.)                 5,857.3          +1
  Burbank Airport (000's) (July)       432.1       +15.3

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

Note: Updated figures 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).