Distributor sales swing upward in March
The Heating, Airconditioning and Refrigeration Distributors International said that the numbers extend an upward trend that saw four consecutive months with at least a 10 percent annual growth rate.
After two months of small declines in the annual growth rate, March’s growth pulled up the running 12-month average for distributor sales of HVACR products to its highest point since 2006. The information is part of HARDI’s Monthly Targeted and Regional Economic News for Distribution Strategies report. The report showed all eight of HARDI’s North American regions outperforming March 2010, ranging from 1.4 percent to 21.1 percent. Despite outperforming last March, Canada continued its fifth month of annual growth rate declines.
“The first quarter is setting up to far exceed our projections,” said Talbot H. Gee, HARDI executive vice president and COO. “However, we’re remaining cautious because we may find out that half or more of this growth is inflationary. Seeing all eight of our regions up in March is fantastic, though it would be a bigger confidence booster if the growth were more even across the continent.”