Third Quarter Results for CEIR Index Show 0.2% Overall Increase
Meager Growth Attributed to Decline in Attendance
DALLAS, 21 November 2013 – Third quarter results for the Center for Exhibition Industry Research Index fell below projections increasing only 0.2 percent, approximately one percentage point lower than the previous three quarters and down from 0.9 percent during the same period in 2012. Despite 13 consecutive quarters of growth, compared to the same quarter in 2012, three key metrics declined with only Real Revenues showing a slight increase.
CEIR President and CEO Douglas L. Ducate, CEM, CMP, said, “Historically, the third quarter is our weakest quarter so a decline in performance from Q2 not that surprising. Hopefully, everyone recognizes the decline in attendance, the metric we normally rely on to push us forward, is the direct result of sequestration and the resulting decline in attendance by government employees at all levels. Even with fewer government employees attending, government spending is strong. Anecdotally, there are many events doing very well and in fact setting records now in the fourth quarter. Hopefully, that will result in meeting our forecast for the year and provide momentum moving into 2014.”
Quarterly CEIR Total Index for Overall Exhibition Industry, Year-on-Year
“The paltry growth was due mainly to a 2.1% year-over-year decline in Attendees, which in part is attributable to the budget impasse. Poor attendance appeared in many industries, especially the Government (GV) and Education (ED) sectors, said CEIR’s economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc.
Despite the decline in Attendees (-2.1 percent), the other three metrics showed from a modest to moderate gain compared to the second quarter: Net Square Feet increased 0.6 percent, Exhibitors rose 0.2 percent, and Real Revenues gained 2.2 percent. In the third quarter, the exhibition industry continued to lag behind the macro economy as real GDP gained 1.6 percent year-on-year.
Quarterly CEIR Total Index for Overall Exhibition Industry Vs. Quarterly
The 2012 CEIR Index predicted slow growth in 2013, which has proven true, and that the exhibition industry may begin to grow steadily in 2014. The Index also noted concerns regarding the stability of the forecasted economic expansion and confirmed that the exhibition industry has rebounded from previous recessions, even though the industry tends to lag behind the economy’s recovery.
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.
For more information about CEIR Predict or to purchase the CEIR Index, an Analysis of the 2012 Exhibition Industry and Future Outlook report, contact Cathy Breden, CAE, CMP, executive director of CEIR at email@example.com or +1 (972) 687-9201.
CEIR serves to advance the growth, awareness and value of exhibitions and other face-to-face marketing events by producing and delivering knowledge-based research tools that enable stakeholder organizations to enhance their ability to meet current and emerging customer needs, improve their business performance and strengthen their competitive position. For additional information, visit www.ceir.org.
Susan Brower, CMM, CCP
+1 (972) 687-9207