Brexit uncertainty dragged U.K. investment to its worst slump since the financial crisis, leaving the economy with barely any momentum.

Gross domestic product increased a smaller-than-forecast 0.2 percent in the fourth quarter, while December alone saw the economy shrink by 0.4 percent, the most since before the 2016 vote to leave the European Union. The pound fell 0.4 percent to $1.2897 as of 10:36 a.m. in London.

The slowdown came as businesses cut investment for a fourth consecutive quarter, the longest continuous decline since the financial crisis.

The fear gripping business was illustrated this month when Japanese carmaker Nissan scrapped plans to build a new model in Sunderland. Airbus, which makes wings for commercial aircraft in Britain, has also threatened to switch investment elsewhere. Business investment fell 0.9 percent in 2018.

The U.K. is due to leave the European Union in a little over six weeks, and politicians are yet to agree on an exit deal. With businesses demanding clarity, and Bank of England Governor Mark Carney warning of damage from the “fog of Brexit,” Monday’s report underlines that that the political wrangling in Westminster comes at a real cost.

The economy is facing the worst year for growth since 2009, with economists warning of a recession if Britain leaves the EU without a deal to smooth the transition. The BOE sees growth of 0.2 percent this quarter, but the sudden loss of momentum at the end to 2018 suggests the economy could stagnate, as indicated in recent purchasing manager surveys.

Still, there was no widespread evidence of stockpiling as the prospect of a no-deal Brexit looms larger, with inventories rising just 1.6 billion pounds ($2 billion) in the quarter. Organizations such as Heathrow airport and Unilever have said they are keeping more on the storeroom shelf to guard against disruptions to supplies from the EU, but the Office for National Statistics said a relatively small number of firms reported taking similar action.

Brexit is not the only threat facing the economy. Major markets from the euro zone to China are losing momentum, weakening demand for British exports. Net trade cut 0.12 percentage points from growth in the fourth quarter as the trade deficit hit the highest in more than two years.