Although the exhibition industry continued to suffer in the first quarter of 2010, its rate of decline so far this year has slowed, finds the Center for Exhibition Industry Research (CEIR), which last week released the first quarter findings for its annual CEIR Index report.
According to CEIR data, the exhibition industry experienced a 4 percent decline in the first quarter of 2010, compared to the first quarter of 2009. Although it’s not growth, the decline is “much smaller” than the 11.6 percent decline between the first quarters of 2008 and 2009, CEIR pointed out.
Also shrinking, it indicated, is the decline in exhibition attendance. “The CEIR Index, released in April, reported that one of the leading indicators to look for in a recovery of the exhibition industry is professional attendees,” CEIR said in a news release. “First quarter data indicates a decrease of 0.2 percent over 2009, which is much less than the 1.5 percent decrease over the same period last year, as well as the year-end overall decrease of 4.1 percent.”
Although two more exhibition industry indicators—net square feet and revenue—also declined in the first quarter, by 6.2 percent and 8.4 percent, respectively, compared to 14.8 percent and 19.7 percent last year, at least one economic indicator is up, according to CEIR, which painted an optimistic picture of the exhibition industry’s future.
“The Leading Economic Index, used by The Conference Board to project economic performance, reports an increase of 1.4 percent in March, following a 0.4 percent gain in February and a 0.6 percent rise in January,” CEIR said. “The U.S. LEI is now at its highest level. This indicates to economists that there will likely be moderately improving economic conditions over the next six to nine months.”