Swiss Watch Exports Rise 9% In April
05/24/2012| 02:15am US/Eastern
Swiss watch exports rose 9% in April illustrating a slowdown in the industry's recent growth momentum, data released Thursday by the Swiss customs office showed.
Watch exports stood at CHF1.69 billion ($1.77 billion) in April, up 9% in real terms compared with the corresponding period a year earlier. In nominal terms, which aren't adjusted for inflation, the increase was 7.9%.
The figures show a slowdown from the 15.2% growth reported in March due to higher year-earlier comparisions and tougher economic conditions in Europe.
Swatch Group AG (UHR.VX), Compagnie Financiere Richemont SA (CFR.VX) and privately held Rolex are the main producers in the Swiss watch market.
Swatch closed Wednesday at CHF375.5, up 6.8% so far this year, and Richemont at CHF56.25, up 18.4%.
-By John Revill, Dow Jones Newswires; +41 43 443 8046; email@example.com
--Marta Falconi contributed to this report.