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Swiss Watch Exports to China Slump Again as US Stays Strong

Swiss watch exports to China plunged for the second month in a row as Covid-19 lockdowns battered demand.  

Shipments to China slumped 65% in May, the Federation of the Swiss Watch Industry said Tuesday. Still, strong appetite for timepieces in the US and Europe offset that decline and helped total exports rise 14% to 2 billion Swiss francs ($2.1 billion).