7
• New projects starts across the industry
decreased 35% compared to Q2 of 2022.
• New projects for heavy highway and civil
contractors decreased 60% compared
to Q2 of 2022.
• New projects for general contractors
decreased 44% compared to Q2 of 2022.
• New projects for specialty contractors
decreased 20% compared to Q2 of 2022.
Potential Impact
New project starts continued to decline last quarter, with 35% less projects as compared
to the second quarter of 2022. Heavy highway and civil contractors fared the worst,
but general contractors also saw fairly steep declines as well. Specialty contractors
have continued to fare a little better given the flexible nature of their business, which
tends to include routine service and maintenance visits.
Project
Trends
New projects across the
industry decreased 35%
year-over-year
35%
Construction Activity Index - Q2 2023 ©Trimble Viewpoint, Inc. All Rights Reserved.
Construction Metric Index
