Record-setting Billings Index is accompanied with Potent Inquiries Index and Strong Outlook
- April business performance shined brightly for interior design firms with continued positivity for the future.
- Billings index* increased by 8.1 points to 69.4, which is the highest reading in the history of the survey. The positivity from consistently high inquiries and outlook readings from previous months are starting to come to fruition. This is also the fifth highest month-over-month increase for the billings index.
- This is also the fifth highest month-over-month increase for the billings index.
- Inquiries index* fell 0.8 points to 66.7, but still recorded the sixth highest reading in the history of the survey and shows a very strong future for the next few months.
- The South achieved an all-time high of 76.4, and other regions experienced strong growth (Midwest: 64.1, Northeast: 64.4, West: 64.7).
- Six-month outlook dipped slightly from 69.0 in March to 68.0 in April; even with this decline, this is the fourth consecutive month with a reading above 60 maintaining a positive future for the year.
- Concerns surrounding COVID-19 continue to fall from 2.71 in March to 2.65 for April (1- No concern/Business as usual to 5- High concern/Anxiety from disruption and unknown), the lowest average achieved since the question’s inception in March 2020.
- When asked about the expected impact of COVID-19 on their firm’s revenue, April is the first month since March 2020 that the average impact among panelists is non-negative (0.6%).
*Note: Any score above 50 represents expansion (i.e., growth) and below 50 represents contraction (i.e., decline).