Heating, Air-conditioning and Refrigeration Distributors International reported a 3.3 percent sales decline for May. The annualized growth through May is 5.1 percent, the slowest annual growth rate in more than a year largely attributed to poor weather in much of the country.
“The weather was not conducive to construction activity or air conditioner sales across much of the country in May,” said Market Research and Benchmarking Analyst Brian Loftus. “This pulled down the national annual growth rate, but four of the seven regions have experienced growth faster than 5.1 percent.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, is now at 50.1. “As sales accelerate into the peak May-June-July period, DSO typically approaches 45,” said Loftus.
