KEY POINTS
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The ConstructConnect Project Stress Index (PSI), which tracks delayed bid dates, on-hold projects, and abandonments in preconstruction, closed November at 125.7, marking a sharp 19.9% increase from October's reading.
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The year-over-year increase stems entirely from abandonment activity, which increased 42.7% compared to last year.
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Bid date delays fell 8.5% and on-hold activity dropped 8.9% over the same period.
Composite Overview
The Project Stress Index (PSI) closed November at 125.7, marking a sharp 19.9% increase from October’s reading. The surge was driven by a 41.1% jump in abandonments, its highest level since a spike in July this year, and a 16.5% rise in on-hold activity. In contrast, bid date delays decreased a modest 2.9% compared to October.
On a year-over-year (YoY) basis, this month’s increase pushed the index 9.9% higher than November 2024 levels.
The YoY increase stems entirely from abandonment activity, which increased 42.7% compared to last year. Meanwhile, bid date delays fell 8.5% and on-hold activity dropped 8.9% over the same period.
Components Monitor
Delay Bid Date101.7 |
On Hold98.2 |
Abandoned177.2 |
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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
Across bid date delays and on-hold activity, the public and private sectors moved in opposite directions, highlighting the distinct economic pressures facing each.
Private sector projects saw notable increases in both bid delays and on-hold activity. In comparison, the public sector experienced strong declines in bid date delays and on holds, dropping both indicators well below historic averages.
In contrast, the private sector saw a minor improvement in abandonments while the public abandonment activity rose strongly.
Both sectors remain well above historic averages for abandonments and have maintained elevated levels throughout most of the year, reflecting the economic uncertainty that has characterized the construction industry in 2025.
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.
