ASID has revealed the third quarter Interior Design Billings Index, showing that interior designer billings experienced a slight increase in September of this year, compared to June’s score of 57.1. Firms specializing in single-family residential projects had growth during the past two quarters, with scores of 57.5 and 55.8. Retail, entertainment, office and hospitality remained between 50 and 65. The new construction spending is approximately 13.7 percent above its August 2014 number.
“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.”