CEIR: Exhibition Industry Declines for Ninth Straight Quarter
'Indicators of recovery’ decline at a slower pace than previous quarters.
Despite a recent positive forecast, the exhibition industry has declined for the ninth straight quarter. According to the Center for Exhibition Industry Research, the overall industry slipped 1.4 percent during the second quarter.
However, while net square feet and revenue—what CEIR says are indicators of recovery—are down, the decline in these areas has slowed compared to previous quarters. Net square feet of exhibit space sold slipped 3 percent and revenue fell 4.4 percent. That’s an improvement over the same period in 2009, though, when net square feet dropped by 10.1 percent and revenue sank 16.9 percent.
Exhibitors during the second quarter were down 3 percent, CEIR says, up over a 12.8 percent decline during the same period in 2009.
Another indicator of recovery, professional attendees, grew 4.5 percent during the second quarter over a 0.2 percent decline over the first three months of the year.
“It is anticipated that slow growth will continue through 2010 and the results suggest that if the U.S. economy is able to avoid a double dip recession, the fourth quarter of 2010 and first quarter of 2011 could be the beginning of a true recovery for the exhibition industry,” CEIR says in a statement. “Watch for retail sales to be an indicator of recovery.”
CEIR measures year-over-year changes in performance across 11 industry sectors: Professional Business Services; Consumer and Retail Trade; Sports and Entertainment; Food; Government; Building and Construction; Industrial and Manufacturing; Communications and Information Technology; Medical and Health Care; Raw Materials and Science; and Transportation.