Last week, the research branch of the American Society of Interior Designers announced this year’s third-quarter billings index. The report, “The ASID Interior Design Billings Index” (IDBI), evaluates the economy’s impact on the field, provides an analysis of the markets that did well over the third quarter of this year, and delves into the key findings from the study.
ASID Interior Design Billings and Inquiries Index; courtesy ASID
Among the findings: The index “continues to indicate favorable but moderate business conditions for the design industry,” with a score that moved up to 54 in September over 50.6 in August. (Scores above 50 indicate industry expansion; scores below 50 reveal contraction.) Further, the business inquiries score remained the same, which ASID says supports “a positive outlook for future business.”
Additionally, the report found that demand for design services is on the increase. It also notes that interior design firms in the South are leading billings growth as firms in the Northeast and Midwest rebound from lower scores. Design firms in the West reported a decline in billings over the third quarter.
The future, according to the index, looks bright. The report’s authors write: “The design industry continues to expect favorable future outcomes. The six-month business conditions index score of 59 for September edged higher than the score of 57 reported for June. The consistency of these scores (above 50) over 12 months supports continued expansion for the design industry.”
Check out the full report.