First quarterly performance index signals industry growth
WASHINGTON, D.C.—The American Society of Interior Designers (ASID) today announced the findings of its first quarterly performance index. The ASID index is based on data compiled from a monthly survey that provides a tailored perspective on billings and business conditions in the interior design industry.
“The ASID index is intended to differentiate interior design performance measurements from those that are used in the construction and architecture industries,” says Michael Thomas, FASID, CAPS, ASID president. “In addition to a focus on interior design billings, the index monitors key indicators such as product selection. This information is a valuable resource for keeping our members apprised of the industry outlook.”
Key Index Highlights include:
- Both the billing and inquiry indexes have been above 50 for the past four consecutive months, signaling moderate industry growth.
- Improvement in the interior design industry is broad-based across regions and multiple sectors. Regional indexes include the Northeast (65.2), Midwest (55.3), South (57.8) and West (57.1). Sector indexes include residential (57.1), commercial (55.9) and institutional (55.4).
- Slightly larger increases in residential billings are mirrored by reported increases in fabric, paint and finishes for renovation projects.
“Interior designers have good reason to be optimistic,” says ASID economic advisor Dr. Jack Kleinhenz, Ph.D. “The renewed health of the U.S. economy is becoming evident in interior design. Both billings and inquiries have shown modest improvement across the board in the first quarter. Looking forward, we can expect that level of growth to continue, with possible seasonal boosts in some sectors.”
Launched in November 2010, the ASID business performance index tracks performance data for billings, inquiries and product sales specific to the interior design industry. The index is based on a monthly survey of 300 firms and provides a tailored perspective on billings, business conditions and economic outlook. The results are compiled into diffusion indexes centered on 50, with scores above 50 indicating an increase in billings, and scores below 50 indicating a decline. More information on the index can be accessed at the ASID’s website.