The report indicates that the HVACR market is primed for continued business growth. Reports for 2018 are at an all-time high, with 44 percent of respondents reporting a significant sales increase of more than 10 percent year over year; this is up from an already impressive 2017 record of 35 percent.
“The 9.8 percent annual sales growth is the best annual pace since eight years ago, when we began to move beyond the Great Recession,” said Brian Loftus, market research and benchmarking analyst, HARDI.
“The 9.8 percent annual sales growth is the best annual pace since eight years ago, when we began to move beyond the Great Recession,” said Brian Loftus, market research and benchmarking analyst, HARDI.
"I look forward to bringing added value to HARDI members with these exciting programs we offer," said Hallmann. "My near-term goal is immersing myself in the HVACR distribution industry to learn about it as quickly and thoroughly as possible, so I can start bringing actionable economic insights to the table."
More than three in four construction firms expect that sales will continue to rise over the next six months, while three in five expect higher profit margins.
While the strong U.S. economy contributed to a positive forecast, a rapid rise in interest rates and materials prices could cause a dip in construction sector spending, especially given ongoing international trade issues.
In a recent report on Equal Employment Opportunity Commission (EEOC) legal actions, it was noted that the agency had filed suit alleging American with Disabilities Act discrimination by an employer for the failure to hire an individual who informed his new employer that he was using Suboxone, an opioid.
Economic forecasters have earned a bad rap when it comes to predicting recessions in the market. Then again, if it were easy to predict the future, everyone would do it.
As folks across the U.S. start cranking up their air conditioning to beat the summer heat, HVAC contractors are gearing up for what meteorologists predict will be a hotter-than-normal summer.
One of the more significant election promises made by then-candidate Trump was his promise to reduce the regulatory burden on American businesses. With his “two regulations withdrawn for every one proposed” approach, he has been largely successful in making his promise a reality.