ASID Interior Design Billings Index Ends Third Quarter on Positive Note
Industry Outlook Continues to Improve
WASHINGTON, D.C. (December 4, 2012) | The American Society of Interior Designers (ASID) Interior Design Billings Index showed a gradual increase in the quarter ending September 30. ASID firms reported positive growth in billings, posting an Index score of 55.3 for September, compared to 51.4 inJuly and 53.4 in August. The InquiryIndex also rose from 58.8 in August to 59.5 in September.
Index highlights include:
Residential Continues to Improve, Other Sectors Stay Flat
The single-family home market has experienced a steady increase, reporting a score of greater than 50 for each of the last nine months. Conversely, the office, retail, entertainment, and hospitality sectors have shown declines, reporting scores of less than 50 for the past quarter. Although institutional billings earlier in the year appeared to behealthy across all sectors, recent monthly scores of below 50 indicate that revenues have fallen off.
Sector and Regional Index Averages
Residential: 52, Commercial: 40, Institutional: 48
Midwest: 52: Northeast: 55, South: 57, West: 50
The pace of strong revenue gains continues for all regions on a year-to-date basis. Since January 2012, the Midwest, South and West regions have reported monthly billing increases. The Northeast has gained points in each of the past two months.
Sole Practitioners Get a Boost
The strongest billing scores are from small firms with nine or fewer employees, with sole practitioners reporting a five-point increase over August. Firms with greater than nine employees are reporting no change in billings.
Overall Outlook for 2013 Remains Positive
According to ASID economist Jack Kleinhenz, both the short- and long-term outlook for the next six months appears positive, although growth is expected to be modest. “While it is encouraging that economic growth has picked up in the third quarter, I remain cautious on the U.S. outlook until there is more clarity on outstanding fiscal issues. I expect GDP growth to remain rather modest in the fourth quarter.”
About the ASID Index
Launched in November 2010, The ASID Interior Design Billings Index tracks performance data for billings, inquiries and product sales specific to the interior design industry. The index is based on a monthly survey of 300 firms and provides a tailoredperspective on billings, business conditions and economic outlook. The results are compiled into diffusion indexes centered on 50, with scores above 50 indicating an increase in billings, and scores below 50 indicating a decline. More information on the index can be accessed at www.asid.org/idindex.
The American Society of Interior Designers (ASID) is a community of people—designers, industry representatives, educators and students—committed to interior design. Through education, knowledge sharing, advocacy, community building and outreach, the Society strives to advance the interior design profession and, in the process, to demonstrate and celebrate the power of design to positively change people’s lives. Its more than 30,000 members engage in a variety of professional programs and activities through a network of 48 chapters throughout the United States and Canada. Learn more at www.asid.org.