Good News About GDP

On Friday, the Commerce Dept. released its first estimate on gross domestic product for the first quarter on 2018. The 2.3% increase was a pleasant surprise, coming on the heels of an upward final revision about the US for the 4th quarter to 2.9%. Recent history has shown weaker first quarters, especially following strong year-end finishes. The first quarter GDP gains came from consumer and business spending growth, although inflation had more of an influence in the growth than in many years. The more troubling data from the estimate was the fact that both consumer and business spending was beginning to trend lower. It remains to be seen whether the additional data gathered for the 2nd and final estimates reinforces that slowing trend in the next two months.

The General Contractors Association of Pennsylvania (GCAP) has published a transcript of its interviews with Gov. Wolf and all three leading GOP candidates for governor. GCAP asked each of the four about their proposed policies that will affect construction. Some of them sort of answered. Read the transcript here.

ScaifeProposed_zpsvgijykjw

University of Pittsburgh’s Medical School is planning a $100 million investment in the expansion and renovation of Scaife Hall. Rendering by Payette.

Project news is light. Pitt is seeking proposals for construction management at risk services for its $100 million expansion of Scaife Hall from PJ Dick, Gilbane, Mascaro, Skanska, Rycon, Massaro, Turner and Whiting-Turner. PJ Dick was selected as general contractor for Providence Point’s $40 million expansion in Scott Township. Cavcon Construction is about to break ground on $3.5 million new Youth & Family Center and Admissions buildings at the Adelphoi Village in Latrobe. NRP Group will be building the Pittsburgh Flats apartments at 23rd and Wharton Streets that was originally proposed by the Edwards Communities. NRP will build 330 units later this year.

Advertisements

2 responses to “Good News About GDP

  1. Hi Jeff – Thanks as always for sending this.

    Hey regarding the Pittsburgh Flats Apts… is NRP local and do you know if they GC themselves?

    Thanks,

    Brad B.
    President/Owner

    [cid:image001.png@01D297FE.C8FCE530]

    CHECK OUT OUR NEW WEBSITE – http://www.rjbridges.com
    412-276-9300
    Cell: 412-913-0395

    Building Relationships!

    Matthew 11:28 – “Come to me all who are weary and burdened. My yoke is easy and my burden is light”

    • NRP is from Cleveland and has its own construction group. Believe they acted as general on the project on the riverfront behind the Terminal Building in the Strip.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s