Heating, Air-conditioning and Refrigeration Distributors International reported 7.7 percent sales growth for December. The annualized growth through December is 6.1 percent, at the lower edge of its range for 2014.
“Low oil prices are proving to be a boon for consumer spending and we expect this trend to continue through at least the first three quarters of 2015,” said HARDI Senior Economist Danielle Marceau.
The Days Sales Outstanding, or DSO, a measure of how quickly customers pay their bills, remained at 46 days. Prompt payments have delayed the normal seasonal DSO increase.
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.