March 3, 2020 / 6:49 AM / a month ago

Swiss economic growth slows to 0.3% in Q4 as exporters struggle

ZURICH, March 3 (Reuters) - The Swiss economy slowed to a 0.3% growth rate in the fourth quarter of 2019, the government said on Tuesday, as exports fell and industry struggled.

The increase meant the Swiss economy grew 0.9% during 2019, the State Secretariat for Economic Affairs (SECO) said, well below the country's long-term average growth rate of 1.7%.

The growth rate during the fourth quarter was a slowdown from the 0.4% level in the third quarter. Manufacturing was flat, with the previously strong chemicals and pharmaceutical industry unable to compensate for difficulties in the machinery and metals sectors. (Reporting by John Revill)

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