The American Society of Interior Designer’s Interior Design Billings Index (IDBI) slipped 6.3 points to a score of 58.8 in June, but registered its eighteenth straight month in which more than 50% of firms reported an increase or no decrease in design services compared to the previous month. The inquiries index, which is seen as a leading indicator for billings, also decreased but maintained a relatively strong reading in June, moving from a score of 65.7 in May to a score of 61.9 in June. Strong scores in inquiries and billings suggest continued positive spending conditions. On a three-month moving average basis, the index posted a score of 60.8 for June. Based on the six-month outlook score of 66.5, design firms expect to continue on a positive path forward in 2017.
By region, economic performance showed less activity and firms across all regions reported a decrease in services in June, but business conditions remained positive. Firms in the South decreased to a score of 66 in June from 69.2 in May; in the West, scores decreased from 67.5 to 57.1; in the Midwest, scores decreased from 58.3 to 50; and in the Northeast, scores decreased from 68.8 to 53.6 in June.
This month’s special questions asked our survey panelists about business performance over the past six months and their expectations for the second half of 2017. Slightly less than half (46%) reported that they met expectations, a third (34%) indicated that business conditions exceeded expectations, while 20% expressed disappointment in business performance. Looking forward, approximately 17% reported that they expect no change in business over the next six months, while 78% expect sales to increase, and 5% expect to see a reduction in sales.