Interior Design Billings and Inquiries Indexes
The ASID Interior Design Billings Index was unchanged in October with a reading of 52.5, signaling moderate growth in the interior design industry. The October three-month moving average score of 53 suggests that the trend is steady and indicates favorable, but moderate, business conditions. Business inquiries remain highly-elevated with a score of 59.6, suggesting that potential business in the pipeline is positive. This supports our panelist’s six-month’s business expectations which increased 1.7 points from September.
While the economy experienced a considerable amount of uncertainty associated with the recent presidential election, the economic fundamentals for consumer spending appear to be sound, including job and wage growth and gains in the household balance sheet. The housing sector also appears to be on solid ground as single-family starts rose to their highest level since October 2007. The monthly IDBI reading is consistent with nonresidential construction starts which also rose in October, and the Dodge Momentum Index, which grew 4.1 percent in October. President-elect Trump will need time to formulate policies and move them through Congress, so no discernable impact on business is expected at this time from major changes to taxes, spending, and trade.
As reported in this month’s survey, panelists are most interested in the maintenance properties of materials in the products and finishes they specify. Eighty-six percent of panelists were either very or somewhat interested in the maintenance aspect of materials. At the other extreme, only 54 percent of clients are very or somewhat aware of the sustainability properties of products, while another 30 percent are aware but not interested.
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