Watch exports contracted sharply in January. Their value fell by 21.5% compared to January 2008, to 950.6 million francs. This level is slightly below that achieved in January 2007. This decline confirms forecasts of a difficult start to the year for the industry and continues the trend begun in the fourth quarter of 2008. While slowing considerably, the annualised variation still registered an increase of 3.6%.
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Source: Federation of the Swiss Watch Industry FH
www.fhs.ch
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