Interior Design Billings Index Ends Year Strong

March 18, 2015  by in Designer Weekly   

The index registered 52.3 at the end of the fourth quarter of 2014 compared to the 60.5 registered at the end of the third quarter. 

The good news is that the index has remained above 50, the baseline score indicating growth, for two years.

Both large and small firms reported year-end billings increases as 2014 drew to a close. Sole practitioners, however, scored below 50 (47.7) for the second consecutive month.

Residential billing outpaced those in the commercial sector. Design firms specializing in single-family and multi-family residential real estate reported growth reported growth at the end of the year with scores of 53.4 and 53.5, respectively. The average index score improved from 51 in 2013 to 54 in 2014.

Looking forward, the design industry remains positive in its outlook. The six-month business conditions index score of 72.3 for December – six points higher than December 2013 — suggests continued expansion.

“The industry ended 2014 on solid footing as design firms experienced supportive business conditions,” said ASID Economist Jack Kleinhenz. “The economic fundamentals for the broad economy are supportive and upbeat with continued job growth and with stronger consumer and business confidence that should support more spending. With the economy shifting into a higher gear, the design industry should experience expanded activity.”