The Center for Exhibition Industry Research (CEIR) has released the CEIR Index results for this year’s third quarter. The growth of trade shows in 2016Q3 slightly increased, as measured by the CEIR Total Index, posting a moderate year-on-year gain of 1.9% in the third quarter (see Figure 1), compared to 1.6% in the second quarter of 2016. Faster growth was primarily attributable to a rebound in attendees. It marked the twenty-fifth consecutive quarter of year-on-year growth. Furthermore, the industry has continued to outperform the macroeconomy for seven quarters straight (see Figure 2).
Figure 1: Quarterly CEIR Total Index for the Overall Exhibition Industry, Year-on-Year Growth, 2011Q1-2016Q3
"Improvement in exhibition performance amidst economic and presidential election uncertainties demonstrates strength in the exhibition industry." said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, Inc.
The strong year-on-year growth in Discretionary Consumer Services, Medical and Health Care and Transportation more than offset the weakness in Industrial/Heavy Machinery and Finished Business Inputs and Raw Materials and Science.
Figure 2: Quarterly CEIR Total Index for the Overall Exhibition Industry Vs. Quarterly Real GDP, Year-on-Year Growth, 2008Q1-2016Q3
All exhibition metrics in the third quarter posted positive year-on-year gains. Net square feet, exhibitors and real revenues (nominal revenues adjusted for inflation) rose slightly over 2.0%, whereas attendees posed a modest increase of 1.1% (see Figures 3 and 4). The latter compares to a decline of 0.2% in the second quarter. Weakness in energy-sector investments due to low oil prices remained a drag on oil related exhibitions. However, the strong showing in attendance of Transportation, Medical and Health Care and Building, Construction, Home & Repair more than made up for the decline in oil related exhibitions.
Figure 3: Quarterly CEIR Metrics for the Overall Exhibition Industry, Year-on-Year Growth, 2016Q3
Figure 4: Quarterly CEIR Metrics for the Overall Exhibition Industry, Year-on-Year Growth, 2009-2016Q3
“Our third quarter report continues to deliver an encouraging message that our industry is both growing and remains relevant across so many sectors,” said CEIR President & CEO Brian Casey, CEM. “The revised GDP growth rate for the third quarter of this year looks to exceed 3%, which offers a glimpse at a continued positive path for the exhibition industry. We continue to maintain a favorable outlook for the coming year as well, which should be good for everyone’s business.”
CEIR provides industry-leading research on the North American exhibitions and events industry globally which optimizes performance, increases engagement and addresses emerging customer needs. For additional information, visit www.ceir.org.
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