Design Billings Get a Boost in Second Quarter
WASHINGTON, D.C. (August 20, 2013) | The American Society of Interior Designers (ASID) quarterly Interior Design Billings Index reports that the second quarter of 2013 remained positive in the April-June period. The Billings Index for June closed at 56.4, up nearly three points from May’s score of 53.7 and higher than April’s score of 55.5.
The AIA’s Architectural Billings Index, which rebounded May, was down slightly in June (from 52.9 to 51.6, respectively). Inquiries, however, were up three and a half points (from 59.1 to 62.6), and architectural firms were reporting a higher proportion of project backlogs. “The economy expanded more than expected in the second quarter of 2012, and this momentum should carry forward, albeit at a soft pace, in the remainder of 2013,” said Jack Kleinhenz, chief economist for ASID. “The pace of growth is expected to lift to about 2.2 percent in the second half of 2013.”
Performance Averages Across Industry Sectors
• Single-family: 57.3
• Multi-housing: 59
• Retail: 45
• Entertainment: 31.3
• Office: 49.7
• Hospitality: 60.3
• Healthcare: 50
• Government: 42.7
• Education: 33.3
• Midwest: 56.6
• Northeast: 57.7
• South: 51.4
• West: 57.9
Designers Hopeful for a Better Second Half
For the first half of the year, 2013 looks very much like 2012, with perhaps some slightly more accentuated variation. Activity should stay positive in the second half, although gains likely will be modest. Higher billings and more positive economic news helped lift designer confidence in June. The ASID Business Outlook Index rose from 67.5 in May to 71.8. Signs of job growth and rising housing prices suggest things may be moving in the right direction, if more slowly than predicted earlier in the year.
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 tailored perspective 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 here.
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.