CEIR Third Quarter Index Results Show Slower Growth for Industry Overall
Fiscal Cliff Uncertaintly Evident as Growth Lags Behind GDP
DALLAS, 30 November 2012 – Today, the Center for Exhibition Industry Research (CEIR) announces that data collected for the third quarter CEIR Index reveals that the Total Index increased by only 0.9% percent. While the exhibition industry in the first quarter 2012 outperformed the real GDP, survey data for the second and third quarters shows that growth has decelerated. Additionally, all four key metrics showed slower year-on-year growth in the third quarter, compared to first and second quarter of this year.
CEIR’s economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc., said, “Concern about the fiscal cliff and the global economy has continued to take a toll in the exhibition industry. The results show that the exhibition industry continues to grow, but attendees and exhibitors are being cautious due to the uncertainty about the global economy.”
“The good news is our industry continued the chain of nine consecutive quarters of growth after nine consecutive quarters of negative numbers. And while the rate of growth slowed to 0.9 percent after 3.0 percent in the first quarter and 1.7 percent in the second quarter, we are still on a positive growth track,” said CEIR President and CEO Doug Ducate, CEM, CMP.
After 4.8 percent and 3.3 percent growth in Attendance, the leading indicator, in the first and second quarters respectively, growth slowed to 1.1 percent in the third quarter. Similar degrees of slowing growth was reflected in Net Square Feet which was down slightly to 1.3 percent from 1.4 percent in the previous quarter; Exhibitors which showed only a modest gain of 0.9 percent from a year ago, compared to 1.1 percent in the second quarter and the growth of Revenues which were adjusted for inflation grew to total $2.62 billion, a paltry year-on-year gain of 0.4 percent.
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.
Predict: CEIR’s Annual Outlook Conference 2013 will be held in September 2013 in New York City. Predict has become the must-attend event for C-level executives, M&A firms and financial institutions to discuss and strategize on performance of the exhibition industry.
For more information about CEIR Predict or to purchase the CEIR Index, an Analysis of the 2011 Exhibition Industry and Future Outlook report, contact CEIR Executive Director Cathy Breden, CAE, CMP or call +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