Fourth quarter results for the Center for Exhibition Industry Research (CEIR) Index, a quarterly report on the exhibition industry, show a solid year over year improvement in 2013.
CEIR reported an increase of 3.0 percent compared to just 0.4 percent increase in the third quarter of the same year. This marks the 14th consecutive quarter of year-on-year growth and the highest increase since the first quarter of 2012, which reported 3.2 percent at that time.
Additionally, CEIR officials stated the exhibition industry turned the corner and outperformed the macro economy as real GDP gained 2.7 percent year-on-year during the same period.
Allen Shaw, chief economist, Global Economic Consulting Associates Inc. and CEIR economist, stated the Total Index increased by 1.0 percent for 2013, just slightly below the 1.1 percent forecasted growth, but in line with expectations.
“With the fourth quarter’s results and 14 consecutive quarters of growth, and our predictions closely matching outcomes, we are confident in the continued growth and progress of the industry,” said Shaw. “The exhibition industry has survived and emerged from the Great Recession and we are confident that the upswing will continue.”
The strongest metric in the fourth quarter was professional attendance, which jumped 5.8 percent year-on-year, the biggest gain since the third quarter of 2007. Exhibitors and real revenues rose 3.0 percent and 3.6 percent, respectively.
Net square feet was the only metric that suffered a year-on-year decline, dropping by 0.5 percent.
The full 2013 CEIR Index with a three-year projection will be released in April 2014.