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CEIR Index Report: Trade Show Industry Growth Streak Continues for 12th Consecutive Quarter
Rachel Wimberly / Trade Show News Network / August 19, 2013
The Center for Exhibition Industry Research’s latest Index Report for the second quarter was just released, and the good news is for the 12th consecutive quarter, the trade show industry continues to grow, though that growth has slowed.
Year-over-year growth increased 1.2 percent overall, which is down slightly, 0.3 percent, compared with the second quarter of last year.
The growth also lagged behind that of the GDP numbers in the second quarter that saw a 1.4 percent increase.
“Overall, the second-quarter results continue on a positive upswing, and they confirm that the exhibition industry has effectively weathered the recession and is a valuable business practice, despite ongoing uncertainty from lawmakers in Washington,” said CEIR’s economist Allen Shaw, Ph.D., chief economist for Global Economic Consulting Associates.
Sequestration and cutbacks in government attendance at shows resulted in a 10-percent decline in Government sector shows’ overall metrics in the second quarter of 2013.
On the other hand, there were several other sectors that saw positive numbers, such as Professional Business Services, increasing 3.9 percent, Raw Materials and Science, increasing 3.9 percent, and Food, increasing 3.4 percent.
One of the food shows that saw good numbers was the National Confectioners Association’s Sweets & Snacks Expo, held May 21-23 at Chicago’s McCormick Place.
The show not only snagged a 10-percent increase in attendees, but also the number of new exhibitors rose 17 percent and the showfloor grew 9 percent, compared with the 2012 event.