Switzerland’s economic growth slows slightly at the end of 2019, highlighting some difficulties against the background of the spread of coronavirus.

Exports of goods contracted in the fourth quarter, as well as the companies’ investments in equipment, following a global slowdown in demand and uncertainty. The Swiss economy is growing by 0.3% in the last quarter of 2019, which is a slowdown compared to the previous quarter, but above economists’ expectations of growth of 0.2%.

Data for Switzerland follow the economic stagnation of neighboring Germany for the fourth quarter, which was hit by problems in the manufacturing sector. Although growth was expected to recover this year, the impact of the coronavirus has eclipsed economists’ forecasts.

In the fourth quarter, the growth of the Swiss economy was fueled by strong consumer spending. The increase in investment in the aviation industry is affecting overall investment, but those for machinery and electrical equipment are shrinking “in line with international developments”, said the country’s statistics office.