Heating, Air-conditioning and Refrigeration Distributors International reported a 9.9 percent sales increase for March. The annualized growth through March was 6 percent. The annual growth rate has remained very close to 6 percent for the past six months.
“This is a good start to the year after 11.7 percent growth in February,” said HARDI Market Research and Benchmarking Analyst Brian Loftus. “The performance this month was consistent across the country. We segregate the U.S. into seven economic regions and the slowest regional growth was 7.5 percent.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, is now at 48.8.
