Center for Exhibition Industry Research (CEIR) discussed the findings of its latest CEIR Index Report during the Society of Independent Show Organizers CEO Summit.
The CEIR Index analyzes the 2013 exhibition industry and provides a future outlook for the next three years. For 2013, the industry showed overall growth of 1.09 percent and was in line with economists’ forecast. The outlook for growth in 2014 is projected to accelerate and continue through 2016.
“Even though 2013 only showed incremental growth, there was positive movement across a majority of the sectors, and there was growth in all metrics,” said Allen Shaw, economist, CEIR. “Each metric measured by the Index saw positive growth in 2013. Net Square Feet (NSF) grew 0.8 percent, the number of Exhibitors increased 0.5 percent, the number of Attendees increased 2.0 percent, and Real Revenues grew 0.9 percent. Of these metrics, the number of attendees finally exceeded the previous peak in 2007, which is great news since it is a leading indicator of the exhibition industry.”
“The economy and the exhibition industry are both recovering and showing signs of slow but steady growth,” Dennis Slater, chairman, CEIR. “From first-hand experience, I know the construction industry was hit hard during the recession, but from the results of our major event, CONEXPO-CON/AGG, I believe we are on the path to recovery. The trusted index data produced by CEIR will continue to be the source we need and depend on for the overall health of the exhibition industry.”
In addition to the Overall Exhibition Industry, nine sectors showed growth in 2013. Industrial/Heavy Machinery and Finished Business Outputs (ID) showed the most growth exceeding expectations with 6.9 percent growth. This sector was followed by Food (FD) with 5.0 percent growth; Sporting Goods, Travel and Amusement (ST) reported 2.8 percent growth; Business Services (BZ) showed 2.6 percent growth; Transportation (TX) saw a 2.2 percent increase; Consumer Goods and Retail Trade (CG) reported 2.1 percent growth; Communications and Information Technology (IT) grew 1.8 percent; and finally both Raw Materials and Science (RM) and Discretionary Consumer Goods and Services (CS) saw 1.5 percent growth.
In contrast, Medical and Health Care (MD) experienced a nominal decline of -0.4 percent, Financial, Legal and Real Estate (FN) saw a -0.7 percent decline; Education (ED) declined by 0.8 percent; Building, Construction, Home and Repair (HM) declined by -1.2 percent and finally, Government (GV) saw a sizable decline of -6.1 percent.
After its initial release, a forecast update of the Index will be presented at the CEIR Predict conference in Chicago on Sept. 11.
For information on how to purchase the complete CEIR Index, visit http://www.ceir.org/store_products.view.php?id=2532.