U.S. interior design sector grows in Q2
The U.S. interior design market continued to grow in the first half of this year. The American Society of Interior Designer’s (ASID) quarterly Interior Design Billings Index has shown industry growth at a moderate pace that is likely to quicken in the second half of 2013.
The index for June was 56.4, up from May’s score of 53.7 and April’s 55.5.
“The economy expanded more than expected in the second quarter of 2012, and this momentum should carry forward, albeit at a soft pace, in the remainder of 2013,” said ASID chief economist Jack Kleinhenz in a press release. “The pace of growth is expected to lift to about 2.2 percent in the second half of 2013.”
Thanks to higher billings and economic recovery, the ASID Business Outlook Index rose from 67.5 in May to 71.8 in June.
About the ASID Interior Design Billings & Inquiries Index
Launched in November 2010, the ASID Interior Design Billings & Inquiries Index survey, conducted monthly, is designed to provide a unique perspective on current and future business conditions for the interior design industry nationally and regionally for all sizes of firms.
Some 300 firms participate in this program. Firms included in this survey primarily are offering interior design services. While many are interior design only firms, panelists are reporting from architectural firms, engineering and other related enterprises. Panelists are asked to report on their current billings relative to the previous months and report on recent business inquiries. A business sentiment question is also asked regarding how general business conditions, for the entire economy, will be six months from now. Quarterly, panelists are asked to provide information on product purchase and specification activity.
The results of the survey are compiled into diffusion indexes which are helpful indicators of changes in the direction of economic activity. The ASID indexes are centered on 50 percent (above 50 indicates expansion and below 50 contraction).