The pace of decline in Switzerland’s global watch exports slowed in December as Chinese orders grew and shipments to the U.S. recorded their best month of the year.
Total exports fell 4.6 percent to $1.66 billion (CHF 1.66 billion), one of the shallowest drops of the year, according to the Federation of the Swiss Watch Industry. The improvement came about even as the number of working days in December was one less than in 2015.
Shipments to China jumped 28 percent to $139.9 million (CHF 139.6 million) as a resurgence that started in the summer continued, while U.S. orders grew 11 percent to $179.5 million (CHF 179.1 million).
