International.
The International Association of Heating, Air Conditioning and Refrigeration Distributors (HARDI) released its monthly trend report, showing that average sales of HARDI distributor members increased by 10.9% in November 2016, its most recent report.
The annualized average growth for the 12 months to November 2016 was 8.5%. This was the third consecutive month with an annual rate that was over 8%.
"November had fewer hot days compared to the previous year," said Brian Loftus, Market Research and Benchmarking Analyst at HARDI. "That was offset by November 2016 having an additional billing day than November 2015."
"Retail sales had a fantastic November," said Connor Lokar, Senior Economist at HARDI. "The sequential increase in sales was one of the largest increases from October to November in the last 20 years."
Sales Pending Days (DSOs), a measure of how quickly customers pay their invoices, rose to 47.3. "This is the first month in a long time that the DSO has surpassed the comparable period of the previous year," Loftus said.
