Heating, Air-conditioning and Refrigeration Distributors International reported a 3.6 percent sales increase for October. The annualized growth through October is 6 percent.
Industry trends are shifting in a more negative direction and aligning with deceleration in the overall economy,” said HARDI Senior Economist Connor Lokar. “U.S. Refrigeration and HVAC Equipment New Orders contracted 3.7% in the third quarter versus the third quarter of 2014. HARDI members will be experiencing more sluggish months in the near term before macroeconomic and industry level acceleration takes hold next year.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, is now at 45.7.
