The latest report from Heating, Air-conditioning, and Refrigeration Distributors International (HARDI) showed that average sales for HARDI distributor members increased 9.4 percent in November 2014, but that annualized growth through November was 6.9 percent, which is where it was throughout 2014. HARDI senior economist Danielle Marceau noted the economic health of the U.S. consumer is improving, thanks in part to lower oil prices, which are reducing the cost of natural gas and heating fuel. “This is great for U.S. consumers, who will spend less on these necessities and have more money in their pockets for home improvements.”
That being said, HARDI president Bill Bergamini, president, Illco Inc., Countryside, Illinois, noted distributors should not expect a windfall year anytime soon. “While all indications are the economy is moving in the right direction, most people I talk to in our industry remain cautiously optimistic. Most economists have agreed over the past several years that growth will be slow. I think they are right on the money.”