Things continue to be bleak in the exhibition industry with the sector recording its ninth straight quarterly decline.
According to market-watchers at the Center for Exhibition Industry Research (CEIR), the exhibition industry dropped a further 1.4% during the second quarter.
That said, there are signs that some recovery is underway.
CEIR pointed out that while revenues and net square feet are down, the rate of decline in these areas has slowed down dramatically compared with previous quarters.
There was a 3% decrease in net square of exhibit space and revenues fell of by 4.4% but, for the same period last year, those percentages were 10.1% and 16.9%, respectively.
Exhibitors for the quarter were down by 3%, but again, this was up almost 13% on the same period in 2009.
“It is anticipated that slow growth will continue through 2010 and the results suggest that if the U.S. economy is able to avoid a double dip recession, the fourth quarter of 2010 and first quarter of 2011 could be the beginning of a true recovery for the exhibition industry,” CEIR stated. “Watch for retail sales to be an indicator of recovery.”
Tags: business, exhibition, recession, show
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