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Swiss Watch Exports Drop for fifteenth month

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Swiss watch exports are in their longest slump since monthly records began in 1988 after lower shipments to Hong Kong led a decline in September.

Exports dropped 5.7 percent to 1.7 billion francs ($1.7 billion).

“We’re seeing export data flatten out, but there’s no trend reversal apparent,” said Alessandro Migliorini, an analyst at Mirabaud Securities LLP. “Hong Kong is very weak.”

For the second month this year, Swiss watch exports to the U.S. exceeded those to Hong Kong, which had been the biggest market for the timepieces for almost a decade.