Following the positive report on Interior Design Billings Index (IDBI) for the first quarter of 2014, the American Society of Interior Designers (ASID) has released the seond quarter report for the year and it shows continuing progress for the interior design industry.
The IDBI gauges the industry’s momentum in different sectors of design by identifying and surveying small to large interior design firms within the different parts of the country and studies their billings and inquiries. The survey takes into consideration a variety of projects including single-family and multi-family residences, commercial, hospitality, In the first quarter of 2014, the ASID IDBI reached 55.8 while the Inquiries Index was at 58.2. The numbers might have decreased around May but it stayed higher than 50, which indicated a positive growth in the design industry
According to Jack Kleinhenz,Ph.D, the research’s chief economist, the economy in the United States shifted higher. Kleinhenz cited that home improvements and constructions started in the first half of the year. The demand for architects and designers is still growing and he foresees that the growth in the industry will remain positive in the remaining half of the year, although it may be slower than the earlier part.
For the past eight months, billings in the single-family and multifamily residence remain above 50. However, in the commercial sector, the growth was not as strong, except for office billings. In the hospitality, retail and entertainment sectors, the billings have declined in the first half of the year. Institutional billings fluctuated during the last six months especially in areas of healthcare, government and educational design.
IDBI’s study since 2010 has provided a significant information on the status of the interior design industry in general. It has reflected an almost real-time growth condition within three to four months of interior design billings and spending.
The report was produced by the ASID Research team led by Director Andy Whittaker in partnership with Kleinhenz & Associates, led by Jack Kleinhenz and Russ Smith.
