From The Watch Watch – -Swiss Exports Slide For Seventh Consecutive Month

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Swiss watch exports slid for the seventh consecutive month as plummeting stocks and slowing economies damped demand for luxury timepieces in their main markets.
The two biggest destinations for Swiss watch exports – Hong Kong and the U. S. – were almost exclusively responsible for the global downturn, the Federation of the Swiss Watch Industry said in a statement Thursday.
Shipments dropped 8 percent to 1.52 billion francs ($1.53 billion) in January, according to data from Switzerland’s customs office. That compares with a 3.7 percent gain in the same month in 2015.

This post was published at David Stockmans Contra Corner on February 22, 2016.

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