HARDI distributor members increased by 9.1 percent in November 2017, according to the monthly TRENDS report. The average annualized growth for the 12 months through November 2017 was 6.4 percent.

“That makes two consecutive months near 10 percent gains after the late summer swoon,” said HARDI senior economist Connor Lokar.  “Demand early in the new year will be supported by healthy consumer spending, but we are trimming our outlook for new housing construction.”

The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is now over 47 days. “The DSO is up from the low 40s at the end of the summer and this is normal,” said Loftus. “47 is comparable to last year.  We expect the ratio to remain in the 47 to 49 range the next couple months.”