Spending for commercial buildings was at about $1.1 billion for the firstquarter this year, compared with $1.373 billion in the first quarter 2002,said the company.
Commercial spending was also down 24% when comparing April 2002 withApril 2003. Developers spent about $350 million in April 2003, in contrastwith more than $461 million in April 2002, said McGraw-Hill.
The April month is seen as the beginning of the construction season, but theweather has held up many new building plans, say local experts. Building forinfrastructure projects and public facilities was also down for the firstquarter and April, McGraw-Hill said.
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