2019 CEIR Index Report Shows Strong Growth in Government, Food Sectors
Last week, Center for Exhibition Industry Research released its 2019 CEIR Index Report, which analyzes the 2018 exhibition industry and provides a three-year economic outlook for the exhibition industry.
Among the findings detailed in the report: strong acceleration of the U.S. economy, rising from 2.2% growth in 2017 to 2.9% in 2018, representing nine consecutive years of growth.
In accordance with the U.S. economy growth, the exhibition industry’s performance finally surpassed its last peak, and is anticipated to break new ground performance-wise through 2021, according to the report. The Total Index, which measures overall exhibition industry performance, increased by 1.9%, only slightly less than the 2.0% increase in 2017.
When it comes to growth by sector, government led the pack, rising 7.8%, followed by food (5.4%) and discretionary consumer goods and services (3.6%). However, several sectors also faced challenges, including financial, legal and real estate, which experienced a 2.6% decline; and consumer goods and retail trade, falling 1.8%.
“Moderate economic, job and personal disposable income growth should continue to drive exhibitions,” said CEIR Economist Allen Shaw, Ph.D., Chief Economist for Global Economic Consulting Associates, in the report.
However, Shaw notes the downward trend in financial, legal and real estate; consumer goods and retail trade; and education may exert a drag on the overall performance of the exhibition industry. CEIR expects the total index growth to slow to 1.4% this year and to 1.1% in 2020 as the economy settles into a slower, yet more sustainable growth path.
On Sept. 16-17, CEIR plans to present a forecast update of the CEIR Index Report at the ninth-annual CEIR Predict conference at MGM National Harbor outside Washington, D.C. Additionally, exhibition professionals in attendance will gain insight on macroeconomics for the industry and why things are happening the way they are.
“We are eager to share new information and perspectives that industry executives have come to rely on from CEIR,” said CEIR CEO Cathy Breden. “The data from the latest CEIR Index, combined with the knowledge of guest economist Dr. Lindsey Piezga [and] other forward-looking sessions, will provide attendees with an excellent predictive edge to use in their future strategic planning and business development efforts.”