COLUMBUS, Ohio — Heating, Air-conditioning and Refrigeration Distributors International (HARDI) recently released their monthly TRENDS report. The average sales growth for reporting HVACR distributor members increased by 10.1 percent in June 2014. The annualized growth through June is 6.6 percent.
“The double digit growth in June looks impressive, but it was helped by one extra billing day this year versus modest 5.9 percent growth reported in June 2013,” HARDI Market Research and Benchmarking analyst Brian Loftus said. “June and July are the busiest months of the year for HARDI members, so the double-digit growth achieved in six of our seven regions was welcome news after the subdued performance in April and May.”
“Consumer spending increased by 4.9 percent in the second quarter compared to 2Q13. However, when adjusted for inflation, the actual spending increase is only 3.8 percent,” HARDI Senior Economist Andrew Duguay said. “This level of spending is healthy, but this is noticeably slower than the 4-5 percent achieved through most of last year.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, declined to 49 days. This is comparable to the prior year level and consistent with the seasonal pattern that has formed since the end of The Great Recession.
HARDI members do not receive financial compensation in exchange for their monthly sales data and can discontinue their participation without prior notice or penalty. Participation is voluntary, and the depth of market coverage varies from region to region. An independent entity collects and compiles the data that can include products not directly associated with the HVACR industry.