RAPAPORT... A shorter working month cut into shipments of Swiss watches,
which fell in September for the first time in a year and a half, according to
the nation’s timepiece trade group.
Exports slid 7% to CHF 1.65 billion ($1.66 billion), the
Federation of the Swiss Watch Industry reported. Orders from Hong Kong, the
Swiss trade’s largest market, dipped 3.5% to CHF 205.9 million ($206.7
million), while supply to the US slipped 3% to CHF 187.2 million ($187.9
million). Those declines outweighed a rise in shipments to China, which surged
17% to CHF 128.6 million ($129.1 million).
Outbound shipments of watches made of gold and steel strengthened
in September, jumping 13% to CHF 274.9 million ($275.9 million). Supply of
timepieces from precious metals experienced the sharpest drop, the organization
noted, plunging 14% to CHF 498.1 million ($500 million), while shipments of
steel watches decreased 9% to CHF 652.4 million ($654.9 million).
All price categories suffered, with exports of watches
priced under CHF 200 ($201) falling 9% by value, as did those between CHF 200
and CHF 500 ($502). Timepieces in the CHF 500 to CHF 3,000 ($3,011) group slid
6%, while those worth over CHF 3,000 dropped 8% during the month.
September 2018 contained 19 business days, compared with 20 a year ago.
Image: Swiss watches in a shop window. (Torange.biz)
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