Moderate growth for the Swiss watchmaking in March
Watch industry exports continued to gain ground in March, but at a rather slower pace than in the two previous months. They were worth 1.7 billion francs, 4.8% higher than in March 2017. The first quarter accordingly ended with an advance of 10.1%, the highest quarterly growth rate since June 2012. Hong Kong (+10.2%) has been reporting sustained and uninterrupted growth for nearly one year. The United States (+4.1%) posted a second month with a gain. Penalized by an unfavourable base effect, China (-6.9%) reported its first fall in 18 months. The recovery in Japan was confirmed again in March (+13.3%).