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ConstructConnect's Project Stress Index - April 15, 2024 Blog Feature

By: Michael Guckes, Senior Economist on April 17, 2024

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ConstructConnect's Project Stress Index - April 15, 2024

Read this article to understand the level of U.S. non-residential construction projects that have been delayed, on hold, or abandoned.


For the week ending April 13th, 2024, the Project Stress Index composite closed at 128.2, up 3.9% from a week ago and up 3% over the past month. This week’s change resulted from all three stress metrics moving higher.

Across both the public and private sectors, activity levels for Delayed Bid, On Hold, and Abandoned projects increased by 2.8%, 2.9%, and 5.4%, respectively. The latest composite reading extends the elevated plateau of weekly readings, which began in mid-February, short after the Index reached its second-highest peak in recorded history.

Weekly readings since that time have moved within a narrow range and imply that there are approximately 25% more stressed projects across the U.S. now than during the average week in 2021.


Delay Bid Date On Hold Abandoned

(Week-on-week changes of less than 0.25% are indicated as unchanged)

Sector Status Update

Public and private projects often have different stress trends because they are financed by different means. Private sector abandoned projects have been trending lower since reaching a 2024 high in mid-February.

The level of weekly abandoned projects has been modestly below the same week levels recorded last year, which were an all-time high. This contrasts with weekly public abandonment readings, which are well above the same week, 1-year ago readings. This year’s weekly public abandonment activity readings have exceeded every same week’s readings going back to 2021.

In both sectors on hold activity, the second most severe form of project stress, also continues to register above normal levels. In every week of the current year, private sector activity readings have set same-week all-time highs. Similarly, weekly public readings have set all-time highs every week since late January.

About the Project Stress Index

The Project Stress Index (PSI) 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. The PSI monitors nonresidential and multifamily projects in their preconstruction phases only and thus excludes any single-family home construction. Each component has been seasonally adjusted and then indexed against its 2021 average weekly reading. The independent tracking of each status type gives unique insights into the timing, direction, and amplitude of market changes.  

Additional information about the PSI, including detailed data about the individual readings for delayed, on hold, and abandoned projects can be found here.

About 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.