COLUMBUS, Ohio —HARDI reported that average sales growth for its reporting HVACR distributor members increased 7.3 percent in July 2013. This gain comes on the tail of the 5.9 percent gain in June 2013. According to the association’s monthly Targeted and Regional Economic News for Distribution Strategies (TRENDS) report, the strongest growth continues to be in the Mid-Atlantic region and the Western region. These regions have generated double-digit annual growth rates. Despite the growth, other economic factors are at play.
“Retail sales are stable right now with a 2.8 percent annual growth, but disposable personal income has barely increased with only 0.6 percent growth during that period while inflation has increased 2 percent,” explained Andrew Duguay, senior economist, HARDI. “This trend is not sustainable. Unless we see significant improvements in the employment and wage growth trends, consumers will likely cut back on their spending.”