Heating, Air-conditioning and Refrigeration Distributors International reported 8.2 percent sales growth for October. The annualized growth through October is 6.4 percent, consistent with its range for 2014.
“Annual retail sales are up 2.6 percent from last year and the quarterly trends suggest a brief acceleration in the near-term," said HARDI Senior Economist Danielle Marceau. "This will support additional upward momentum for members.”
The Days Sales Outstanding, or DSO, a measure of how quickly customers pay their bills, is now at 46.5 days, a bit shorter than last year at this time. The recent seasonal pattern indicates a gradual increase is likely to reach the low 50s by early next spring.
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.