Swiss watch exports barely expanded in May after two months of declines, suggesting the industry is feeling the effects of fallout from the conflict in the Middle East.
Total shipments were up by 0.4% in value terms compared with a year earlier, buoyed by growth in bimetallic models, while declines were recorded in the precious metals and steel segments, the Federation of the Swiss Watch Industry said Thursday. In the first five months of the year, exports are down 3.1%, it added.
As well as stoking inflation and denting consumer sentiment, the US-Israeli war on ...