IDBI Index holding steady in September.
Business conditions for the interior design industry remained at its current, unchanged levels for September as the Interior Design Billings Index (IDBI) recorded a score of 52.2. After dipping to 19.1 in April, the industry appears to have completed a ‘V’ shape recovery as the IDBI index has now hovered around 52 for three consecutive months (any score above 50 represents expansion and below 50 represents contraction). The three-month moving average of the IDBI index was at 52.3 in September. Although the September new projects inquiry index was at 52.7, down from an August reading of 57.6, its three-month moving average continued steadily at 53.5, a minimal difference from the August figure of 53.6.
Reported as three-month moving averages, two regions moved into an expansionary mode while two remained in contractionary territory for September. Firms in the Midwest and the South indicated positive business conditions with index readings of 50.5 and 58.0 respectively, while firms in the Northeast (46.7) and West (47.2) reported upward movement but still in contraction.
Optimism about the next six months retreated in September but still remains in positive territory. The six-month expectations index shifted down from 58.1 in August to 54.2 for September.