COLUMBUS, OH — Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report on Friday, showing average sales for HARDI distributor members increased by 7.0 percent in March 2017.
The average annualized growth for the 12 months through March 2017 was 8.0 percent. The annual rate has been at-or-above 8 percent since September 2016.
“The heating season ended on a good note after the warm February,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “The growth rate was helped by strong growth in the southwest that benefitted from an unusually warm period.”
“Our leading indicators continue to improve,” said HARDI Senior Economist Connor Lokar. “The general rise in the Purchasing Managers Index suggests a cyclical rise in U.S. Industrial Production into early 2018.”
The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is near 49 days. “The DSO is has increased from 46 at the beginning of the year but that is not cause for concern,” said Loftus. “This increase is consistent with the normal seasonal pattern. The latest DSO is nearly equal to the March 2016 level.”