Construction Economic News

Stay up to date on the latest construction economic news and get in-depth analysis and insights from Chief Economist Alex Carrick and Senior Economist Michael Guckes.

Michael Guckes, Senior Economist

Michael Guckes is Senior Economist for ConstructConnect. He is an international speaker on the North American construction market. Michael has over a decade of economics-related experience in the construction and manufacturing industries.

Blog Feature

By: Michael Guckes, Senior Economist
November 20th, 2023

The project stress index composite represents an equal-weight measure of the seasonally adjusted level of pre-construction projects that have experienced a delayed bid date, have been placed on hold, or have been abandoned in the last 30-days. For the week ending November 20th,

Blog Feature

By: Michael Guckes, Senior Economist
November 13th, 2023

Project Stress Index registered 120.2, indicating that last week’s project stress conditions were 20.2% above their 2021 average level.

Blog Feature

By: Michael Guckes, Senior Economist
November 6th, 2023

Project Stress Index registered 120.2, indicating that last week’s project stress conditions were 20.2% above their 2021 average level.

Blog Feature

By: Michael Guckes, Senior Economist
October 31st, 2023

Project Stress Index registered 120.2, indicating that last week’s project stress conditions were 20.2% above their 2021 average level.

Blog Feature

By: Michael Guckes, Senior Economist
October 23rd, 2023

Project Stress Index Moves Higher On Rising Abandoned Project Readings: 122.7, +3.4%

Blog Feature

By: Michael Guckes, Senior Economist
October 16th, 2023

COMPOSITE OVERVIEW: The project stress index composite represents an equal-weight measure of the seasonally adjusted level of pre-construction projects that have experienced a delayed bid date, have been placed on hold, or have been abandoned in the last 30-days. For the week ending October 15th, 2023, the Index registered 118.3, signaling a stress level approximately 18% above the average 2021 weekly reading. The Index decreased by 0.5% week over week resulting primarily from a decline in the level of bid date delayed projects. This movement overshadowed minor changes in the level of on hold and abandoned project levels. The latest result ends a two-month long trend of sequentially higher stress readings in which abandoned and on hold projects grew rapidly. Additional weeks of measurements will determine if this week’s pause in rising stress readings represents a temporary pause in a broader run-up, a plateau, or the beginning of a decline in construction stress.

Blog Feature

By: Michael Guckes, Senior Economist
October 9th, 2023

COMPOSITE OVERVIEW: The project stress index composite represents an equal-weight measure of the seasonally adjusted level of pre-construction projects that have experienced a delayed bid date, have been placed on hold, or have been abandoned in the last 30-days. Compared to the average level of project stress in 2021, today’s stress level is almost 19% higher. The week’s composite result increased by 0.5% from a week ago due to a 5% increase in projects placed on hold. This increase overshadowed small declines in delayed and abandoned project levels. The composite’s current reading is its highest since late April 2023. The latest absolute count of abandoned projects marked the series’ third highest reading since 2020. After seasonal adjustment though the figure was less concerning as it is customary for abandoned counts to temporarily surge during the second half of the calendar year.

Blog Feature

By: Michael Guckes, Senior Economist
October 4th, 2023

Can public spending continue to play the role of industry backstop while public finances steadily become untenable?