The new ConstructionConnect Project Stress Index (PSI) composite reading for October has shown a mild improvement to 104.2, rising 0.8% for the month after a revised September reading of 103.4.Compared to the same month one year ago, the composite is down 11.6%. This is the fourth consecutive month in a row for year-to-year contractions. However, ConstructionConnect's Chief Economist Michael Guckes tells us: "This year has been very good for the PSI, with year-to-date composite performance down 14.6%. If conditions continue at this level for the rest of the year, the PSI will arguably have its best year since 2021."Related on Archinect: July sees sharp improvement in project conditions as interest rates are expected to fallThe total number of project abandonments, along with the number ofon-hold projects, were both recorded as hitting new multi-year lows. Guckes says it is due largely to the preemptive anticipation of Federal Funds Rate (FFR) decreases, which have an impact of pr...