United States.
The International Association of Heating, Air Conditioning and Refrigeration Distributors (HARDI) published its monthly Trends report in which it presented that the average sales of HARDI distributors increased by 7.3% in September 2016.
The annualized average growth for the 12 months to September 2016 was 8.1%. The annual growth rate has generally remained within the range of 6% to 7% for the past two years. This is the first 8% gap since 2011.
"September had similar year-over-year operating conditions in most of the country," said Brian Loftus, Market Researcher and Benchmarking Analyst at HARDI. "The month is memorable for the annual sales growth rate that reaches 8% of the territory. This is the best annual growth rate since the calculation was inflated by easy comparisons of the last remnants of the Great Recession."
The report indicates that the U.S. consumer is in good shape thanks to a strong labor market, low interest rates, low inflation and rising household values.
Sales Pending Days (DSOs), a measure of how quickly customers pay their invoices, increased by one day to 43.3. "The current DSO level is comparable to last year's right now," Loftus said. "A certain deceleration of DSO is consistent with normal seasonality."
