Heating, Air-conditioning & Refrigeration Distributors International released its monthly TRENDS report, showing average sales for HARDI distributor members increased by 3.2 percent in June 2017.
The average annualized growth for the 12 months through April 2017 was 8.5 percent.
“Many of us remember how hot it was last June,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “June this year had almost 15% fewer cooling degree days than last year and much of the Southeast experienced a lot of rain.”
“Real GDP is doing well, US Industrial Production is strong, and consumers are doing well,” said HARDI Senior Economist Connor Lokar. “Overall the US economy is firing on all cylinders. The modest sales growth for the month reflects the weather, not a change of economic health.”
The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is near 48.5 days. “April and May are the high points for the annual DSO cycle,” said Loftus. “We should now stay less than 50 and approach mid-40s in the autumn when the temps get back to the mid-40s.”