Heating, Air-conditioning and Refrigeration Distributors International released its monthly TRENDS report, showing average sales for HARDI distributor members increased 7.7% in November 2014. The annualized growth, the group noted, has been between 6% and 7% throughout 2014. It ends the year hugging the lower edge of the range at 6.1%.
The Days Sales Outstanding, a measure of how quickly customers pay their bills, remained at 46 days. Prompt payments delayed the normal seasonal DSO increase.
“Low oil prices are proving to be a boon for consumer spending and we expect this trend to continue through at least the first three quarters of 2015,” HARDI Senior Economist Danielle Marceau said.