KEY POINTS
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The ConstructConnect Project Stress Index (PSI) closed July 2025 at 114.1, down 24.3% month-on-month, marking a return to historic bounds after June’s record spike in project stress.
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Abandonment, on-hold, and bid-delay activities all declined month-on-month by 37.1%, 15.4%, and 4.0% respectively, though year-to-date abandonment remains up 38.7%.
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July 2025 mirrored July 2024 with a similar PSI drop around 24%, as both months saw notable declines in abandonment rates.
Composite Overview
The Project Stress Index (PSI) composite closed July 2025 at 114.1, representing a 24.3% month-on-month decrease. This decline is a return to historic bounds after June reported record surges in on-hold and abandonment activity.
Month-on-month decreases were seen across the board, with a 37.1% fall in abandonment activity, on-hold activity down by 15.4%, and bid-date delays retreating 4.0%. Year-to-date, we have seen abandonment activity rise 38.7%, on-hold activity decline 15.9%, and bid date delay increase by 3.2%.
Comparing July 2024 to July 2025, we see similarities in all three indicators’ activity patterns, with abandonment activity falling substantially in both months. Both periods recovered from the relatively elevated project stress levels of the previous months. Following several months of elevated readings, the PSI fell 24.6% in the same term of 2024, like the 24.3% slide we saw this July.
Components Monitor
Delay Bid Date102.3 |
On Hold88.1 |
Abandoned151.8 |
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The ConstructConnect Project Stress Index Composite chart is shown from October 2023 to July 2025. The PSI is a seasonally adjusted, equal-weight measure of delayed, on-hold, or abandoned projects. (Month-on-month changes of less than 0.25% are indicated as unchanged). Image: ConstructConnect
Sector Status Update
Public and private projects often exhibit distinct stress trends due to the different market forces influencing them. July data showed bid-date delays activity dipping in both sectors.
On-hold activity has diverged as public on-hold activity has rapidly risen to its highest level year-to-date, while private project on-hold levels have held steady near their historic mean.
Project abandonments typically follow a seasonal pattern, with elevated abandonment levels in the first half of the year before trailing off in the second half. July 2025 has broken the trend with both construction sector abandonments remaining near historic upper bounds going into the second half of the year.
READ THE FAQs on The Project Stress Index
About the Project Stress Index
The Project Stress Index (PSI) composite represents an equal-weight measure of the seasonally adjusted level of preconstruction projects that have experienced a delayed bid date, been placed on hold, or abandoned in the last 30 days. The PSI only monitors nonresidential and multifamily projects in their preconstruction phases, thus excluding 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 market changes’ timing, direction, and amplitude. Additional information about the PSI, including detailed data about the individual readings for delayed, on-hold, and abandoned projects, can be found here.
