Watch exports go through torrid time

Swiss watch exports have suffered their biggest quarterly drop since 2009 as the industry struggles with the strong franc and a slump in demand in the China.

The value of shipments fell 7.2 percent in the third quarter, the Swiss customs office has reported. Exports dropped 2 percent in the first nine months of the year to 15.8 billion francs ($16.5 billion), according to the Federation of the Swiss Watch Industry.

"The data casts a shadow over prospects for the year," the trade group said.