COLUMBUS, Ohio — Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing average sales for HARDI distributor members increased by 11.8 percent in August 2015.
The annualized growth through August 2015 is 7.3 percent; the annual rate through July was 6.4 percent. August 2015 is only the third time in the past 24 months that the annual rate has been more than 7 percent.
“The August report was impressive,” said Brian Loftus, HARDI Market Research and Benchmarking analyst. “Six of our seven economic regions reported double-digit growth. It was a good way to end the summer selling season.”
“August was another strong month for HARDI members,” said Connor Lokar, senior economist, HARDI. “The results are a bright spot in the recent flow of conflicting economic data. ”
The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is now at 42.6. “August is traditionally the annual low for DSO, and the current report is the fastest turn we have seen,” said Loftus.
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.