Key insights
- Swiss watch exports rose 9.2% YoY in February, driven by strong demand from the US and Japan. The US market saw a 26.8% increase. This indicates continued strength in luxury goods consumption, potentially reflecting positive consumer sentiment and wealth effects, which could translate to broader economic activity and a slightly positive influence on US equities.
Investing.com -- Swiss watch exports increased 9.2% year-on-year to CHF2.168 billion in February, according to the Federation of the Swiss Watch Industry.
Wrist watches accounted for CHF2.075 billion of the total, rising 10% compared to the same period last year.
The United States led growth among major markets, with exports climbing 26.8% to CHF431.5 million. Japan recorded a 23.7% increase to CHF155.9 million, while France saw exports surge 57.1% to CHF152.7 million.
The United Kingdom posted a 10% rise to CHF142.3 million, and Singapore grew 5.1% to CHF135.7 million.
Hong Kong was the only major market to decline, with exports falling 5.2% to CHF146.5 million.
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