The popular index used to gauge tradeshow growth demonstrated continued resilience in this year’s second quarter, likely affirming earlier projections for solid growth in calendar year 2015.
The Center for Exhibition Industry Research’s CEIR Total Index registered 3.8 percent year-over-year growth in Q2, a strong followup to the 4.5 percent attained in Q1 2015.
Late last year, after the index showed a 1.8 percent gain for calendar year 2014, CEIR projected that a strong four-year run of steadily better numbers would likely top out in 2015 at 2.8 percent for the full year. Thereafter, it was estimating growth to slow to 2.4 percent in 2016 and 2 percent in 2017.
For now, though, the CEIR index, a composite that accounts for the number of exhibitors, net square footage, attendance and revenue, points to an industry hitting on all cylinders. It’s now registered 20 consecutive quarters of year-over-year growth, and the 3.8 percent Q2 growth number is the second highest since Q2 2007.
Moreover, after slightly lagging the upturn in the U.S. economy as measured by GDP growth for the last three years, the index has solidly outperformed it for two consecutive quarters. That points to a strong year in the making, says CEIR economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates, Inc. "The second-quarter results are very promising. They show that the exhibition industry is on a solid position for robust growth this year,” he said in a statement.
All of the CEIR Index metrics gained in Q2. Real revenues led the way with a strong 6.1 percent showing. And all 14 industry sectors that make up the index showed growth, paced by Building, Construction and Home Repair; Industrial/Heavy Machinery; and Finished Business Inputs.