Respondents to the monthly American Supply Association (ASA) survey, which measures sales trends for the plumbing and PVF distributors that belong to the group, reported a median sales increase of 14% in September 2022 compared with the prior-year period.
September was the second month of 2022 to report less than 15% growth versus the prior year and declined 8% from August’s sales report. Year-to-date sales growth was 19%.
“While September was another strong month with double-digit sales growth (14%), this is only the second month of 2022 that respondents reported sales growth less than 15% year-over-year. The inflationary pressures are squeezing gross margins, with more than 60% of respondents reporting lower gross margins percentages vs. the prior year,” Industry Insights Senior Vice President Greg Manns said.