Heating, Air-conditioning and Refrigeration Distributors International reported 9.4 percent sales growth for November. The annualized growth through November is 6.9 percent, at the upper edge of its range for 2014.
“The continuously improving health of the US consumer is supporting growth in the retail industry, as well as residential construction,” said HARDI Senior Economist Danielle Marceau.
The Days Sales Outstanding, or DSO, a measure of how quickly customers pay their bills, is now at 46.1 days, the shortest collection time seen for this time of year. The typical seasonal increase has been slow to develop.
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.