Abandonments, Delays Ease Due to Anticipated Interest Rate Cut
August 20, 2024
Even as delays on some megaprojects have caused jitters across construction, actual abandonments of jobs decreased 23.7% in July, according to Cincinnati-based ConstructConnect’s latest Project Stress Index, a measure of construction projects that have been paused, abandoned or have a delayed bid date. Delayed bid activity ticked down 6.8%, while work put on hold also slowed by 10.6%. Overall, the Project Stress Index plummeted 14.2% in July.
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