The Center for Exhibition Industry Research recently released its semiannual data that indicates the exhibition industry gained 2.4 percent during the first six months of 2011, outperforming the U.S. economy, which only gained 1.9 percent in the same time period.
"During the first half of 2010, the exhibition industry lagged the macro economy,” said Allen Shaw, Ph.D., who is a CEIR economist and chief economist for Global Economic Consulting Associates.
He added, “After two consecutive years of decline, the total CEIR Index dropped, tumbling 4.4 percent from a year ago, compared to a year-on-year increase of 2.7 percent in real GDP.”
The turnaround for the exhibition industry began in the second half of 2010, Shaw said, gaining more than 4 percent from the year earlier, compared with an increase of 3.3 percent in real GDP during the same time period.
“After the impressive rebound in the second half of 2010 of 4.2 percent, the growth of the CEIR Index in the first six months of 2011 steadied to 2.4 percent, in spite of the U.S. economy weakening,” he added.
Shaw said, “Overall, the exhibition industry outperformed the economy, as real GDP gained only 1.9 percent year-on-year and payroll employment was relatively flat."
The first half of the year saw increases, but the first quarter of the year was stronger than the second, according to CEIR’s report.
Even so, the exhibition industry experienced an overall increase of 1 percent in the second quarter, when compared with the same quarter of the previous year, which marks four consecutive quarters of growth.
The second quarter of 2011 saw increases in several areas - net square feet of exhibit space sold showed an increase of 2.8 percent, exhibitors increased by 0.5 percent and attendees increased by 1 percent.
Revenue in the second quarter, however, dropped 0.2 percent, compared with a decline of 8.3 percent in 2010.
Growth is expected to continue through 2011, and predictions through 2013 will be presented at the CEIR Predict Conference, Sept. 15 in New York City, during which attendees will participate in an interactive discussion and analysis of the U.S. economy and the exhibition industry.
This session will be conducted by CEIR’s economists, Shaw and Jeffrey Werling, Ph.D., of Inforum, who will report on the real-time impact that economic and political forces may have on exhibitions and events serving various industry sectors.
For more information on the CEIR Predict Conference visit http://www.ceir.org/predict/