Heating, Air-conditioning and Refrigeration Distributors International reported a 5.6 percent sales increase for April. The average annualized growth for the 12 months through April 2017 was 8.4 percent.
"April is the tail end of heating season in some parts of the country and the start of cooling season in other parts,” said HARDI market research & benchmarking analyst Brian Loftus. “Wherever HARDI distributors were located, they had one less billing day this month and produced results consistent with a healthy market.”
"The US Remodeling Market Index reached 58.3 in the first quarter, up 7.0 percent from the first quarter of 2016 and the highest mark since mid-2015,” said HARDI senior economist Connor Lokar. “Along with the 6.7 percent year-over-year improvement of US Private Home Improvement Construction spending to a record $159.7 billion, it is a good economic environment for HARDI members.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, is now over 50 days.
