The Interior Design Billings Index from the American Society of Interior Designers (ASID) has remained positive in the second quarter of 2013. The index for June closed at 56.4, which was higher than the May score of 53.7 and the April score of 55.5. The residential and hospitality sectors saw the largest jump in billings, while many non-residential sectors saw a decline.
“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,” Jack Kleinhenz, chief economist for ASID, said in a statement. “The pace of growth is expected to lift to about 2.2 percent in the second half of 2013.”
The index is based on a monthly survey of 300 firms, and tracks data for billings, inquiries, and product sales. Any score above 50 indicates an increase in billings. The single family (57.3), multi-housing (59), and hospitality (60) industry sectors saw an increase in billings, while retail (45), office (49.7), entertainment (31.3), government (42.7), and education (33.3) saw a decrease in billings. Healthcare remained neutral with a score of 50.
Regionally, the West saw the biggest rise in billings with a score of 57.9, followed by the Northeast (57.7), Midwest (56.6), and South (51.4). The ASID Business Outlook Index rose from 67.5 in May to 71.8 in June, but was down from the prior quarter's index of 74.
The ASID Inquiry Index of 56.8 indicates that a greater percentage of respondents expect growth in the coming months.