Interior Design Billings and Inquiries Indexes
Business conditions for the interior design industry continue on a positive track as November’s ASID Interior Design Billings Index increased 3.3 points to 56.3 and exceeded the three-month moving average of 54.5. Scores above 50 indicate positive business conditions for the industry, while scores below 50 suggest contraction. All regions remained above the break-even threshold of 50 in November with firms in the Midwest and the West posting rebounds from low marks in October.
Although business inquiries remain in positive territory, the inquires index for November fell slightly from 59 to 57. This change could be a seasonal factor related to end of year business activity rather than a notable indicator about potential business opportunities in the future.
As we get ready to start the New Year, several measures are providing a positive outlook for design and construction spending. The expectations of survey panelists over the next six-month are strengthening and edged up 5.24 points to 76.2. This view is consistent with the November findings of the Dodge Momentum index and the Conference Board’s Consumer Confidence expectations index which both showed a pickup.
This month’s special question asked our survey panelists, “What changes did you make to your business that worked really well this year?” Firms reported a variety of changes, with nearly 30% indicating that they implemented a new marketing strategy which included an increase or change in social media. One in six panelists, or 17%, reported that they added personnel, while 6% reported no change to their business activities.
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