Heating, Air-conditioning and Refrigeration Distributors International reported 5.6 percent sales growth for February. The annualized growth through February is 5.8 percent, close to the 2014 range of between 6 and 7.
“The acceleration in February halted some of the downward momentum that had been building in the internal trends,” said HARDI Senior Economist Danielle Marceau. “Annual member sales should be able to maintain at a fairly consistent pace.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, began its normal seasonal ascent, approaching 50 days.