The report shows steady growth in the fourth quarter
What’s more joyous than being in a profession that’s growing (moderately)? “Business conditions for the design industry continued to show positive momentum, albeit at a slightly slower pace from that of the third quarter,” notes ASID’s Interior Design Billings Index (IDBI). December's ASID IDBI value of 52.3 reversed itself from the 60.5 score registered in September, but the index remains at above 50, as it has for the past eight quarters.
Design firms in the Midwest region reported accelerated growth in the fourth quarter, while those in the South showed slow and steady growth with billings well above 50 in the fourth quarter. Business conditions remained weak for firms in the Northeast and West as indexes dipped below 50, which may be attributed to the reduced housing demand in recent months.
A boosted economy is responsible for the industry’s solid footing, according to Jack Kleinhen, an ASID economist.
“The economic fundamentals are supportive and upbeat,” he said. “With the economy shifting into a higher gear, the design industry should experience expanded activity.”
