Guarded Optimism to Propel Industry Forward into 2021
Billings for interior design firms increased for the sixth consecutive month in December. The ASID Interior Design Billings Index (IDBI) registered a score of 53.4 for the month, showcasing that the pace of billings accelerated from November (any score above 50 represents expansion and below 50 represents contraction). Billings continued their positive trajectory as reflected in the three-month moving average of 52.7. The inquiry index, an indicator of future work, surged 14.3 points to 64.2, the highest score since August 2019 (70.1). The three-month moving average of the new projects inquiry index recorded a score of 57.1. December’s survey results indicated that the business climate is favorable, and panelists appear to expect this sentiment to continue into the first half of 2021. The six-month outlook index has remained well above 50 mark for the past five months, posting a December score of 54.8.