HARDI Releases Latest Monthly Report Showing Sales by Distributors

Heating, Air-conditioning & Refrigeration Distributors International released its monthly TRENDS report, showing sales by HARDI distributors declined by -4.1% percent during April 2023.
The annual sales growth for 12 months through April 2023 is 12% percent.
“This looks like a soft start to the first month of cooling season, but that is a bit misleading,” said HARDI Macroeconomic & Residential Market Analyst Brian Loftus. “Besides being compared to a very busy prior year, April 2023 had one less billing day than last year. We estimate sales for the month would have increased by nearly 1% with the same number of billing days.”
HARDI members do not receive financial compensation in exchange for monthly sales data and can discontinue participation without prior notice or penalty. Participation is voluntary, and the depth of market coverage varies from region to region. An independent entity collects and compiles the data that can include products not directly associated with the HVACR industry.
“A combination of difficult prior year comparisons, shrinking annual price increases, and weaker demand have been pulling the annual growth rate back towards more normal pre-COVID rates, and it looks like that will continue,” said Loftus. “Four of our regions are reporting sales growth in the 8% to 9.5% area, and the pace is clearly slowing for all seven regions. This annual rate will be in single-digit territory this summer.”
Source: hardinet.org