As record-breaking years go, 2013 was a rather downbeat one for Switzerland’s watchmakers. Although exports hit an all-time high, at SFr21.8bn ($24.8bn), they were just 1.9 per cent above the level achieved in 2012.
For an industry used to double-digit growth, the slowdown was something of a reality check.
So it is no surprise that as the great and good of the industry prepare to rub shoulders at the annual Baselworld trade fair, which opens in the northern Swiss city today, there is more than a little caution in the air.
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