The American Society of Interior Designers has released its Interior Design Billings Index 4th Quarter 2017 Report.
The report provides insight on the current business conditions for the interior design industry, including a rundown and analysis of the market segments and geographic regions that enjoyed a positive fourth quarter, 2017; a look at the key indices from the report and what they suggest for the design industry over the next six months; and an evaluation of how interior design practitioners interpret the economic climate.
According to the report, an increasing number of respondents reported a pull back in business conditions since mid-2017. The pace of billings growth dropped during the fourth quarter of 2017, with the December ASID Interior Design Billings Index (IDBI) score dipping to 47.8 from September's score of 55.6.
The decelerating trend, combined with a sub-par inquiries score of 47.8, suggests that market conditions going into 2018 are somewhat indefinite. The December index is weaker than its three-month moving average of 52.3, indicating a continuation of declining scores reported since mid-2017.
Sole practitioner design firms reported a modest decline in quarterly performance on a three-month moving average, but remained in expansionary territory in the fourth quarter. Slightly larger firms with two to nine employees maintained a positive trend and showed a three-month moving average of 58. Larger firms of 10 to 25 employees fared less well during the year, reporting sub-50 scores in five out of 12 months in 2017.