Today, at the CEIR Predict Conference, the Center for Exhibition Industry Research (CEIR) released second quarter data collected for the annual CEIR Index report, and the results marked a modest year-on-year gain of one per cent. All four metrics posted year-on-year gains with the strongest performance in real revenues, which rose 1.4 per cent. The growth of the exhibition industry lagged behind GDP during the second quarter of 2014, a reversal of the previous two quarters.
“Overall, the second-quarter results show a meager gain of one per cent; the underlying reasons for performance can be attributed to weak exhibition performance in the construction, business, education and non-profit exhibitions sectors,” says CEIR’s economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates, Inc.
The sectors leading in performance to-date in 2014 are Food, increasing 6.2 per cent; Discretional Goods and Services (CS), increasing 5.4 per cent; and Communications and Information Technology (IT), increasing 4.3 per cent. Conversely, the Education and Non-profit (ED) sector declined by 3.5 per cent, which is attributed to retrenchment of state and local government expenditures. The Raw Materials and Science (RM) sector declined by 0.6 per cent, even though fundamentals remained sound during the same period.
As an objective measure of the annual performance of the exhibition industry, the CEIR Index measures year-over-year changes in four key metrics to determine overall performance: Net Square Feet of Exhibit Space Sold; Professional Attendance; Number of Exhibiting Companies; and Gross Revenue. The CEIR Index provides exhibition industry performance across 14 key industry sectors: Business Services; Consumer Goods; Discretionary Consumer Services; Education; Food; Financial, Legal and Real Estate; Government; Building, Construction, Home and Repair; Industrial/Heavy Machinery and Finished Business Inputs; Communications and Information Technology; Medical and Health Care; Raw Materials and Science; Sporting Goods, Travel and Entertainment; and Transportation.