Revenue increased 3.6 percent for HARDI members during November 2013, according to the group’s most recent report.
The growth rate likely would have been higher, officials said, but one of the Heating, Air-conditioning and Refrigeration Distributors International’s seven regions is experiencing slowing HVAC market business.
The month also had one less bill day than a year ago.
“HARDI distributors continuing to show stable growth,” said HARDI senior economist Andrew Duguay. “November’s annual growth rate inched up to 6 percent from 5.9 percent in October. It was a challenging comparison for the Mid-Atlantic region because the prior year experienced 20% growth after Superstorm Sandy. The Western region has cooled off significantly in the past two months.”
HARDI market research and benchmarking Analyst Brian Loftus said inventory levels among members appear to be stable.
“The TRENDS report indicates inventory levels are under control,” Loftus said. “Inventory growth has lagged sales growth in virtually every region the past few months except for one.”
The “days sales outstanding,” a measure of how quickly customers pay their bills, increased for a second consecutive month from the levels achieved in August and September.
“The DSO increase is consistent with the normal seasonal pattern and is not inconsistent with the sales growth,” said Loftus.