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The May TRENDS Report from Heating, Air-conditioning & Refrigeration Distributors International (HARDI) shows a sharp decline in sales performance for the month, and still a small increase for the year-to-date figure over the same period last year. HARDI distributor members reported a decrease of 10.2% for May and growth for the 12 months through May 2020 of 0.4%. About a year ago growth was above 12% and a year before that almost 7%.

The report’s accompanying notes mentioned that Initial Unemployment Claims have declined for five consecutive months, new home sales were still strong, and retail spending surged in May. They also touched on a ‘disappointing’ Industrial Production report, COVID-19 challenges, fewer billing days than May 2019, and an increase in Days Sales Outstanding (how quickly customers pay their bills). “COVID-19 is still with us and so is the economic uncertainty," said the report.

More about the HARDI TRENDS Report can be found here.