KEY POINTS
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The ConstructConnect Project Stress Index (PSI), which tracks delayed bid dates, on-hold projects, and abandonments in preconstruction, experienced a sharp decline in December, driven by improvements across all stress indicators.
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Abandonments saw the most significant improvement, with bid date delays and on-hold activity also contributing to the overall decrease.
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Compared to the previous year, the index shows progress, though abandonments remain higher than year-ago levels.
Composite Overview
The Project Stress Index closed at 102.1 in December, marking an 18.7% decline from the previous month, as all three stress indicators moved lower.
Abandonments led the decrease, falling 27.2% from November levels, while bid date delays and on-hold activity declined by 12.0% and 10.0% respectively.
Compared to December 2024, the Project Stress Index has fallen 4.3%, driven by a 23.2% decrease in on-hold activity and a 9.8% fall in bid date delays. Abandonments remain 21.1% above their year-ago levels, partially offsetting the improvement in the other indicators.
Components Monitor
Delay Bid Date89.3 |
On Hold88.0 |
Abandoned128.9 |
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The ConstructConnect Project Stress Index (PSI) composite chart is shown from December 2023 to December 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
In 2025, the construction industry experienced distinct abandonment pressures. Liberation Day tariffs in June triggered a 67.7% month-over-month spike in private project abandonments as firms faced increased material costs.
The government shutdown in late 2025 disrupted the normal flow of federal funding, introducing volatility into public project abandonment counts. ConstructConnect will continue monitoring how the shutdown affects abandonment patterns.
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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.
