The American Society of Interior Designers recently released the third quarter Interior Design Billings Index on Nov. 16. Billings by design firms ticked up slightly in September compared to June’s IDBI score of 57.1. The ASID indices are centered on 50 percent; above 50 indicates expansion and below 50, contraction. Based on the IDBI three-month moving average, billings have been in positive territory since the third quarter of 2011, and September’s score indicates positive revenue growth.
The healthcare sector has reported fewer firms with increased billings since May. In fact, by September, the IDBI healthcare score indicated reduced billings when compared to August. With the exception of July 2015, firms specializing in government services have shown a steady string of scores in positive territory since September 2014. September’s government sector score of 55 was three points lower than reported in June. Billings for interior design firms in the education space have reported fits and starts during the first half of 2015. The most current reading of 59 indicates that firms are experiencing billing increases. This score is up from a low of 36 in June.
“Overall economic growth has slowed due to economic crosscurrents during the third quarter, but consumer spending, along with long-awaited housing and construction activity, are providing needed fuel to keep the economy on track,” said Jack Kleinhenz, ASID economist. “The slightly slower U.S. economy should prove to be temporary and not prove to be a major speed bump for the design industry, and panelists remain positive about the near term outlook for the industry.”
To download the full report, visit asid.org.
