Swiss Watch Exports Not Picking Up

Exports of Swiss watches in March fell 26.6 percent to 914.4 billion Swiss francs ($786.2 billion), as exports continued to slide, according to data released by the Swiss watch federation, Reuters reported.

The March declines are the fifth month in row of softening sales, an outcome of falling demand in Hong Kong and the U.S.

The Thursday report showed that the decline was focused on items priced at 500 - 3,000 Swiss francs ($439 - $2,634), the 200 to 500 francs ($176-$439) price point items saw a 9.6 percent increase in volumes.

Exports to Hong Kong fell 29 percent, while sales to the U.S. fell by nearly 50 percent for a second month in a row.

The federation said European markets performed better than the average, with France registering growth of 2.7 percent.