Econowatch L.A. county.

ECONOWATCH
L.A. COUNTY

                                                              % - from
GENERAL                                  Latest    Previous   previous
INDICATORS                               period      period    period

Employment (000's) (Nov.) (1)           4,790.1     4,717.2      +1.5
Unemployment (000's) (Nov.) (1)           260.5       257.3      +1.2
Film Production Days (2nd qtr.) (2)      13,768      14,678      -6.2

Bankruptcies
Chapter 7 (Nov.)                            868        1025     -15.3
Chapter 11 (Nov.)                             9          16     -43.8

Trade (3)
Exports (mils.) (Oct.)                  $9178.0    $8,379.2      +9.5
Imports (mils.) (Oct.)                $23,691.6   $21,910.6      +8.1
Air cargo (4)
 LAX (Oct.)                               217.4       172.2     +26.2
 Burbank (Sept.)                            6.9         9.6     -28.1
Container volume (5) (000's)
 Long Beach (Nov.)                        611.6       657.9      -7.0
 Los Angeles (Nov.)                       736.3       714.7      +3.0

Los Angeles CPI (Nov.)                    210.2       217.3      -3.3

Electricity Accounts (000's)
 Residential (Sept.)                    1,242.5     1,243.5      -0.08
 Commercial (Sept.)                       176.7       180.2      -1.9
 Industrial (Sept.)                        13.6        13.5       +.74

GENERAL                                    Year   %+ from
INDICATORS                                 ago    year ago

Employment (000's) (Nov.) (1)           4,659.7     +2.8
Unemployment (000's) (Nov.) (1)           206.0     26.4
Film Production Days (2nd qtr.) (2)     $12,993     +6.0

Bankruptcies
Chapter 7 (Nov.)                            565    +53.6
Chapter 11 (Nov.)                            12    -25.0

Trade (3)
Exports (mils.) (Oct.)                 $7,970.9    +15.1
Imports (mils.) (Oct.)                $22,717.9     +4.3
Air cargo (4)
 LAX (Oct.)                               186.7    +16.4
 Burbank (Sept.)                            9.6    -28.1
Container volume (5) (000's)
 Long Beach (Nov.)                        655.0     -6.6
 Los Angeles (Nov.)                       745.6     -1.2

Los Angeles CPI (Nov.)                    214.5     -2.0

Electricity Accounts (000's)
 Residential (Sept.)                    1,241.0     +0.12
 Commercial (Sept.)                       178.0     -0.73
 Industrial (Sept.)                        13.8     -1.4

REAL ESTATE

                                                             % + from
                                         Latest   Previous   previous
                                         period    period     period

Construction lending (mils.) (Sept.)     $492.4     $604.3     -18.5
Property acquisition lending           $2,157.6   $3,699.7     -41.7
 (mils.) (7) (Sept.)
Refinance lending (mils.)              $6,466.1   $8,338.7     -22.5
 (Sept.) (8)
Foreclosures
  Number (Sept.)                          1,418      1,237     +14.6
  Value (mils.) (Sept.)                  $613.2     $505.2     +21.4
Building contracts (mils)
  Residential (Nov.)                     $262.9     $214.5     +22.6
  Nonresidential (Nov.)                  $433.7     $442.0      -1.9
Building permits (mils.)
  Residential (Nov.)                     $330.5     $367.8     -10.1
  Nonresidential (Nov.)                  $756.0     $442.0     +71.7
Housing start permits (Nov.)                941      1,768     -46.8
Home sales (Dec.)                        $2,161      2,680     -19.4
Home prices (000's) (Dec.)               $510.0     $525.0      -2.9
Condo sales (Dec.)                          608        762     -20.2
Condo prices (000's) (Dec.)              $432.0     $417.0      +3.6

Apartments (3rd qtr.)
  Gross occupancy                         95.0%      95.6%      -0.63
  Avg. sq. ft. rent                       $1.96      $1.94      +1.03
  Avg. monthly rent                      $1,683     $1,660      +1.4
Office vacancy rates (3rd qtr.)
  Downtown L.A                            12.5%      13.5%      -7.41
  San Fennando Valley                      7.8        6.0      +30.0
  West L.A                                 5.7        8.6      -33.7
  South Bay                               12.2       13.2       -7.6
  Countywide                               9.2        9.5       -3.2
Industrial vacancy rates (3rd qtr.)
  Downtown/Central                         0.7%       1.0%     -30.0
  South Bay                                1.8        2.1      -14.3
  San Gabriel Valley                       1.9        1.6      -18.8

                                           Year    % + from
                                           ago     year ago

Construction lending (mils.) (Sept.)       528.0      -6.7
Property acquisition lending             4,720.9     -54.3
 (mils.) (7) (Sept.)
Refinance lending (mils.)              $10,088.6     -36.0
 (Sept.) (8)
Foreclosures
  Number (Sept.)                             206     588.0
  Value (mils.) (Sept.)                    $88.7     591.3
Building contracts (mils)
  Residential (Nov.)                      $826.7     -68.2
  Nonresidential (Nov.)                 $1,138.1     -61.9
Building permits (mils.)
  Residential (Nov.)                      $470.1     -29.7
  Nonresidential (Nov.)                   $851.6     -11.2
Housing start permits (Nov.)               1,917     -50.9
Home sales (Dec.)                          6,263     -65.5
Home prices (000's) (Dec.)                $550.0      -7.3
Condo sales (Dec.)                         1,414     -57.0
Condo prices (000's) (Dec.)               $415.0      +4.1

Apartments (3rd qtr.)
  Gross occupancy                          95.8%     -0.84
  Avg. sq. ft. rent                        $1.85      +5.9
  Avg. monthly rent                       $1,597      +5.4
Office vacancy rates (3rd qtr.)
  Downtown L.A                             14.3%     -12.6
  San Fennando Valley                       6.0      +30.0
  West L.A                                  7.6      -25.0
  South Bay                                14.6      -16.4
  Countywide                                9.7       -5.2
Industrial vacancy rates (3rd qtr.)
  Downtown/Central                          1.1%      36.4
  South Bay                                 2.2      -18.2
  San Gabriel Valley                        1.1      +72.8

TOURISM

                                                        % + from
                                   Latest    Previous   previous
                                    month      month      month

Hotel occupancy rate (Oct.)          82.7%      84.5%      -2.1
Room rate (Oct.)                   $163.05    $161.11      +1.2
Passengers
LAX (000's) (Oct.)                4,978.0    5,948.7      -16.3
Burbank Airport (000's) (Sept.)     485.0      540.4      -10.3

                                     Year    % + from
                                     ago     year ago

Hotel occupancy rate (Oct.)          78.9%      +4.8
Room rate (Oct.)                   $145.97     +11.7
Passengers
LAX (000's) (Oct.)                4,898.4       +1.6
Burbank Airport (000's) (Sept.)     462.0       +5.0

FOOTNOTES

1. Not seasonally adjusted.
2. Music, television, film and commercials quarterly.
3. Through Los Angeles Customs District.
4. In thousands of tons.
5. 20-foot equivalent unit.
5. Metropolitan L.A. and San Fernando Valley
7. Apartment and residential combined
8. Includes refinancings, second mortgages and equity
   mortgages

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

--Gabriela Gonzalez