US project abandonments surge 41% in november

US construction preconstruction activity showed heightened stress in November as the ConstructConnect Project Stress Index (PSI) jumped 19.9% month-over-month to 125.7, driven primarily by a surge in abandoned projects.

The sharp increase was fueled by a 41.1% spike in project abandonments, reaching the highest level since July 2025. On-hold activity also rose 16.5% compared to October, while bid date delays declined modestly by 2.9%.

On a year-over-year basis, the PSI registered 9.9% higher than November 2024 levels, with the entire increase attributable to abandonment activity, which climbed 42.7% compared to the prior year. Meanwhile, bid date delays fell 8.5% and on-hold activity dropped 8.9% over the same period.

The November data revealed divergent trends between public and private sectors. Public sector projects experienced strong declines in both bid delays and on-hold activity, falling below historic averages for both metrics. Conversely, private sector projects saw notable increases in bid delays and on-hold activity, though abandonments improved slightly.

Both sectors maintained elevated abandonment levels throughout most of 2025, reflecting ongoing economic uncertainty in the US construction industry. The PSI tracks nonresidential and multifamily projects in preconstruction phases, excluding single-family residential construction.