Euro area slow-down hits Slovakia

The growth of the Slovak economy in 2019 will soften to 3.5 per cent as a result of theslow-down in the euro area. The pressure from weak external environment will also translate into lower household consumption. Such a negative trend will be offset by the export of Slovak carmakers. In 2020, the economy will further ease and the depleted labour market will reduce job creation. The downside risks to the development emanate from the Brexit without agreement, hard landing in the euro area and protectionism in world trade.