COLUMBUS, Ohio — HARDI recently released its JP Morgan Mid-Season Survey Results and Outlook, a trifecta of report, presentation and webinar.
The outlook and its insights are generated by JP Morgan analyst Stephen Tusa. Tusa has extensive background with the industry, having led the survey analysis and report for nearly a decade.
According to the review, furnaces and housing starts are both in line with JP Morgan’s forecasts entering 2016, up five percent and eight percent respectively. Air conditioners were underperforming, up just two percent through June after the slow start to the cooling season.
“The nominal sales growth of air conditioners through June reflected the cool spring,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “Survey participants were still expecting healthy demand. Once the hazy, hot, humid weather arrived, we’ve seen improvement in our TRENDS reports.”
The JP Morgan analyst also provided forecasts for the upcoming heating season, expecting a strong performance against a generally warm 2015 heating season. According to Tusa, overall consumer demand remains strong and he expects solid growth in the mid- to high-single-digit range.