ConstructConnect’s Project Stress Index is a new resource that tracks changes in the level of projects that are delayed, placed on hold, or abandoned based on weekly construction activity data.
Project Stress Index: +5.5% YOY
Project stress levels for the 30-day period ending May 20, 2023, finished almost unchanged from year-ago levels, however, the Index was up 5.5% from a week ago.
The weekly gain was driven by higher levels of projects placed on hold and abandoned. Projects on hold are 9.9% and 7.4% higher than year-ago and week-ago levels, respectively.
Similarly, annual and week-ago abandoned counts are higher by 7.1% and 8.8%, respectively. These latest results extend an important but hidden trend in the Composite readings, which began in early April: a decline in delayed project volumes is being offset by elevated levels of on hold and abandoned projects.