HARDI Members Fear Gloomy 2011
According to a recent HVAC distributor survey, more than 100 HARDI HVAC equipment distributors so far reported a strong 2010 driven largely by weather, continued momentum from the $1,500 residential tax credits, and pent-up demand from last year’s weak replacement sales.
Concerns about a still-sluggish commercial recovery, continued lack of consumer and commercial credit, and price pressures weigh down otherwise generally-optimistic outlooks for 2010. Interestingly, while more than 90% of respondents considered the residential tax credits positive for business, over half shared concerns that a failure to extend the tax credits beyond this year could have a negative effect on 2011 by pulling through some demand.
The mid-season distributor survey was conducted by HARDI in partnership with JP Morgan’s Equity Research Group.