Interior Design Billings and Inquiries Indexes
The Interior Design Billings Index (IDBI) continues to indicate favorable but moderate business conditions for the design industry. According to the Society’s most recent survey, the IDBI edged up to a score of 54.0 in September from a reading of 50.6 in August. IDBI scores above 50 indicate industry expansion, while those below 50 indicate contraction. The business inquiries score of 59.2 was unchanged, supporting a positive outlook for future business. IDBI panelists’ expectations for business conditions over the next six-months were essentially unchanged in September compared to August’s reading of 60.3.
The U.S. economy posted a 2.9% increase in economic activity during the third quarter and appears to have pulled out of the recent weak cycle of growth that began in late 2015 and continued through the second quarter of 2016. The economy is expected to grind forward and build momentum in the consumer and housing sectors. This turnaround is good news and a key factor that supports the positive outlook for future business reported by ASID panelists.
The final summer consumer sentiment readings as measured by the University of Michigan reflect their lowest reading in two years. Consumers appear to be increasingly concerned about slow economic growth and the results of the upcoming election.
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