2018 a successful year for Slovak economy

For Slovakia's economy, 2018 was a successful year, as the pace of economic growth accelerated, driven by a dynamic growth in domestic demand and the automobile industry, a number of economic analysts concurred. Most European countries saw their economic growth slow down in 2018 but not Slovakia, which encountered an opposite trend. According to Tatra Banka economic analyst Tibor Lörincz, this can be attributed mostly to automobile sector investments. "It's quite likely that a few years from now we will be remembering 2018 as one of the best years in terms of the economy in the history of the Slovak Republic," emphasised Lörincz. Household consumption recorded a year-on-year growth of 3.2%. Poštová Banka analyst Jana Glasová attributes the hike to the improving situation on the labour market and increased purchasing power. In 2018, inflation recorded a more dynamic growth (2.6 percent y-o-y) than in the previous year (1.3 percent y-o-y), mostly due to the growing food and transport prices.