UPDATE 1-U.S. architects group cuts construction forecast


* Sees U.S. construction spending down 5.6 pct in 2011 * Sees 2012 rebound led by hotel sector * Tight credit, govt budget shortfalls depress spending NEW YORK, July 27 (Reuters) - An architects' trade group cut its 2011 U.S. construction forecast on Wednesday, citing tight credit conditions, government budget shortfalls and a depressed housing market. The American Institute of Architects (AIA) said it now expects spending on nonresidential construction projects to fall 5.6 percent ...

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