7
• New projects across the industry decreased
40% compared to Q1 of 2022. However, February
to March saw new projects increase by 23%.
• New projects for heavy highway and civil
contractors decreased 53% compared
to Q1 of 2022. February to March saw
new projects increase by 24%.
• New projects for general contractors
decreased 39% compared to Q1 of 2022.
February to March was flat.
• New projects for specialty contractors decreased
14% compared to Q1 of 2022. February to March
saw new projects increase by 30%.
Potential Impact
January was a tough month for contractors, with projects decreasing across the board,
particularly for both heavy highway and civil contractors, as well as general contractors.
However, projects rebounded in February and March, potentially indicating that the overall
project decline could be ending and there could be more projects on the horizon.
Project
Trends
New projects across the
industry decreased 40%
year-over-year
40%
Construction Metric Index
Construction Activity Index - Q1 2023 ©Trimble Viewpoint, Inc. All Rights Reserved.
