NCS Credit Lien Index Q4 2023

The Lien Index ended 2023 at 55. This is an approximate 5% decline in activity from Q3 2023 and a 4% increase in activity compared to Q4 2022. Even though activity has slowed over Q3, lien activity remains above 50, signaling payment issues on projects nationwide. The Index is predicted to stay over 50 in early 2024, as new construction starts aim to recover from a turbulent Q4. With fewer projects starting, cash flow challenges will surface in areas such as aggressive bidding, putting additional pressure on razor-thin margins. Download the full report for details.