Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing the average sales performance by HARDI distributors increased 24.5% percent during last month.
The average annual sales growth for the 12 months through December 2021 is 23.6% percent.
“The sales growth this year has been amazing, and this month was consistent with that performance,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “The 24.5% sales growth this month was despite having one less billing day and while being compared to a very strong prior year. It has been quite a year.”
Loftus added, “The record sales growth is a result of strong end market demand and the pass through of the extraordinary price increases. The Producer Price Index for Primary Air Conditioning, Forced Air Heating and Refrigeration products has increased by 14.7% through December 2021. The median PPI increase across the past ten or twenty prepandemic years was only 2%.”