• Elevated temperatures in the United States and globally have increased the use of air conditioning for home and office, raising demand both for machinery and for maintenance. Global exports of air conditioners, reversible heat pumps and components rose by 8% year over year in the first four months of 2023.
• The air-conditioning manufacturers have noted that supply chains have returned to normal, though their inventory efficiency levels are still well below historical levels. Most component costs are falling.
• Manufacturers are reviewing their sourcing patterns. Mainlan...