Austin commercial construction down 49%

From Austin Business Journal, March 20, 2009...

Contracts for future commercial construction in the Austin area fell 49 percent in February, compared to the same month last year, according to a new report.

McGraw-Hill Construction, which tracks nationwide construction contracts, reported nearly $60 million in future contracts for local commercial construction.

That’s down from $116.9 million reported in February 2007, according to the report. Year-to-date, commercial construction in the region is down 61 percent.

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