New ASID index shows continued growth for interior design industry
Home Accents Today Staff -- Home Accents Today, 9/17/2012 3:58:35 PM
WASHINGTON, D.C. - The interior design industry has experienced 10 consecutive months of positive performance across sectors, according to a new report from the American Society of Interior Designers.
Results from the most recent ASID Interior Design Billings and Inquiries Index for the second quarter of 2012 indicate continued positive growth for the industry with an overall index of 56.5.
Launched in November 2010, the Index survey, conducted monthly, asks 300 interior design firms and panelists from related enterprises to report on their current billings relative to the previous months, and report on recent business inquiries. The results of the survey are compiled into diffusion indexes which help indicate changes in the direction of economic activity.
The ASID indexes are centered on 50% -- a number above 50% indicates industry expansion, and below 50% indicates contraction.
While the Billing Index dropped by 6 points to 56.5 from its March level (62.5), June 2012's score marked the sixth straight month that revenue has risen. Also on a positive note, firms are hearing more and more about potential projects.
Although the Index has declined a couple of points each month for the past three months, responses suggest that a greater percentage of ASID respondents are experiencing growth. The number of respondents reporting business has remained "about the same" has decreased, while the number reporting "significantly increased" has increased over the past three months.
Firms of between 1 and 9 employees posted a billings index of 50 or above for each of the past three months. Mid-sized firms, which had done well during the first quarter, reported a decrease in June. Firms in the midwest, south and western regions of the U.S. reported continued gains in the second quarter, while the northeast showed gains for only the past two months. The west region, in particular, has reported increased billings every month since August of 2011.
At an address scheduled for Sept. 18, 2012 at the National Press Club in Washington, D.C., ASID Exec. Vice President and CEO Randy Fiser will discuss the trends and market forces that are driving this growth.
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