Interior Design Billings Rose in Q1
Washington, DC, May 17, 2017-The March ASID IDBI score is 62.8, an increase over December’s value of 52.9, according to the American Society of Interior Designers Q1 Interior Design Billings Index.
The March index is stronger than its three-month moving average of 59, indicating strong momentum and signaling sturdy revenue gains (score of 50 or above). The new project inquiry rate rose to 58, up from a December score of 53.3.
Design firms of all sizes enjoyed positive billings in March and had scores above their three-month moving average reflecting ongoing business strength. Sole practitioner design firms reported a strong March IDBI score of 60.9, higher than any scores from the previous 12 months. Firms with two to nine employees reported an even stronger score of 63.8.
Design firms across all regions showed billing growth relative to low January scores suggesting business conditions strengthened. Scores ranged from 59 in the West to 66 in the Northeast.
Billings for design firms specializing in single-family and multifamily residential sectors have gained since December, posting scores of 63 and 56. Commercial sector interior designers reported no change in billings from February to March. Those serving the Institutional sector reported a decline in billings over the month with a score of 40.
The ASID six-month interior design business conditions index, the Conference Board’s expectations index and the Dodge Momentum Index reflect an improving broader economy and that spending for design services should continue over the next six months. Looking forward, the design industry remains optimistic about the near term outlook for business conditions. The six-month business conditions index score of 63.4 for March was virtually unchanged from the December score of 63.6 and markedly higher than September (59) and June (57) scores.