Heating, Air-conditioning and Refrigeration Distributors International released its monthly TRENDS report, showing average sales for HARDI distributor members increased 5.6% in February 2015 after a modest 2.3% gain in January.
The annualized growth was between 6 and 7% throughout 2014. It is currently close to that range, with the growth rate for the past 12 months just shy at 5.8%.
“The acceleration in February halted some of the downward momentum that had been building in the internal trends,” said Danielle Marceau, HARDI’s senior economist. “Annual member sales should be able to maintain at a fairly consistent pace.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, began its normal seasonal ascent, approaching 50 days.