The Long Cooling Cycle
This chart shows the twelve-month trailing average of shipments for ventilation, heating, air-conditioning and commercial refrigeration equipment. Smoothing makes the structural cycle easier to read, but the broad industry category includes residential, commercial and industrial demand beyond data centers.
What does it show?
The smoothed shipments series turns noisy monthly releases into a clearer view of the long cooling-equipment expansion.
Methodology
Twelve-month trailing average of seasonally adjusted shipments for ventilation, heating, air-conditioning and commercial refrigeration equipment (NAICS 3334). The average reduces preliminary monthly noise but does not isolate data-center customers.