PARIS — Foreign sales of Swiss watches are set to recover in 2010 after falling 22.3 percent last year, amid signs demand for luxury goods is returning in the wake of the global economic downturn, the Federation of the Swiss Watch Industry said Thursday.
December exports fell 7.2 percent, their lowest decline in 2009, to 1.2 billion Swiss francs, or $1.17 billion. This compares with average monthly declines of 20 percent to 33 percent between January and October.
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