The Interior Design Billings Index (IDBI) from the American Society of Interior Designers
(ASID) reports increased revenue for the first quarter of 2014. In March, the ASID IDBI came in at 52.7 with the new projects inquiries index at 63.5. Any score above 50 indicates expansion.
The overall commercial sector experienced increased billings for the first three months of 2014. The education segment emerged from a 13-month slump, while retail projects remained solid. After spiking to a score above 60 in December 2013 and a drop of more than 10 points the following month, the hospitality sector evened out to a reading of 50. Billings in the office segment underwent a sharp decline in February but bounced back to a mark of around 53. Although entertainment declined to nearly 40 in March, the segment has demonstrated steady growth over the past year.
From a regional standpoint, design firms in the South and West saw billings increase, while the Northeast and Midwest declined.
“Despite an overall weak economy during the first quarter of 2014, the IDBI suggests a positive outlook for the interior design industry,” economist Jack Kleinhenz, who partnered with ASID Research on the index, said in a statement. “I remain optimistic about the balance of the year. Income, employment and consumer confidence continue to improve, suggesting sustained growth in all sectors.”