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Midwest HVAC News
HARDI Distributors Report
7.3 Percent Revenue Increase in September.
 Heating,
Air-conditioning & Refrigeration Distributors International (HARDI)
released its monthly TRENDS report, showing average sales for HARDI
distributor members increased by 7.3 percent in September 2016.
The average annualized growth for the 12 months through September
2016 was 8.1 percent. The annual growth rate has generally remained
within the range of 6 percent to 7 percent during the past two
years. This is the first breach of 8 percent since 2011.
“September had similar year-to-year operating conditions throughout
most of the country,” said HARDI Market Research & Benchmarking
Analyst Brian Loftus. “The month is memorable for the annual sales
growth rate reaching 8 percent territory. This is the best annual
growth rate since the calculation was inflated by easy comparisons
from the last remnants of the Great Recession.”
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“U.S. Real GDP and
U.S. Industrial Production are on the back side of the business
cycle,” said HARDI Senior Economist Connor Lokar. “However,
leading indicators are pointing toward a stronger macroeconomy
in the U.S. and abroad in 2017.
The U.S. consumer is in good shape thanks to a strong labor
market, low interest rates, low inflation, and rising home
values.”
The Days Sales Outstanding (DSO), a measure of how quickly
customers pay their bills, increased by one day to 43.3. “The
current DSO level is comparable to last year at this time,” said
Loftus. “Some slowing of DSO is consistent with the normal
seasonality.”
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.
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