Final Thought on Friday

The economic news this week has been fairly mixed for the U. S. economy. Consumer confidence soared in Tuesday’s report. Consumer sentiment tanked in today’s report (different survey – different surveyor). The best news was the Case Shiller index for April, which showed that home values had risen more than 10% over last year. That same day RealStats reported that home sales for April in Pittsburgh were up 24% +, with average values outpacing the median value.

Bear Construction is starting on a new 150,000 sq. ft. facility for Jerome Manufacturing at the Fayette Business Park in Georges Twp. near Springfield, PA. The Fay-Penn Economic Council says the project is a $9 million investment.

Pitt opened bids Thursday afternoon on the Phase 2B portion of the ongoing Benedum Hall modernization project. Bids came in at $24.3 million. The low bidders on the four prime contracts were: Volpatt Construction (general) at $7,639,000; McKamish (HVAC) at $10,225,000; Ruthrauff-Sauer (plumbing) at $1,495,000; and TJR Enterprises (electrical) at $4,984,000.

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