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ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: According to the Ministry of Finance's prediction, the average wage in the Czech Republic could exceed CZK 54,000 within three years. Analysis: The share of companies in the Czech Republic that use a virtual office has increased to 25 percent. Retailers' sales accelerated growth in July, but according to analysts, it is still slow. The German economy will show zero growth this year, the Ifo Institute estimates. Survey: 56 percent of small entrepreneurs considered closing their businesses. Saudi oil revenues will fall more than expected this decade, the IMF says. Inflation remained at 2.2 percent in August, exceeding analysts' and the Czech National Bank's estimates. Reuters: China faces a rise in obesity due to economic problems and automation. Analysis: The number of corporate bankruptcies increased by nine percent this year to 524. ČNB: The balance of payments ended the second quarter with a deficit of CZK 3.7 billion. ČNB: Czech household debts rose to CZK 2.33 trillion in August. Analysts: The revival of consumption is gradual, the reason is concerns about the development of the economy. The number of corporate bankruptcies in Germany increased by almost a quarter in the first half of the year. Industry and trade did not do well in July, construction increased year-on-year. Poles are annoyed that Draghi did not talk to them when writing the report on Europe's lagging behind. The average wage in the Czech Republic increased to CZK 45,854, growth was below market expectations. Economist Hampl: The Czech Republic did not sufficiently realize how the world had changed after 2019. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. Moody's: The largest number of Russian-owned companies in the EU are registered in the Czech Republic. The Spanish central bank has increased its GDP growth estimate to 2.8 percent thanks to tourism. The Czech National Bank will replace banknotes and coins damaged in floods for people and companies. Italian industrialists support a return to nuclear power in order to reduce energy costs. Inflation in Hungary fell to 3.4 percent, the lowest in three and a half years. The Czech Republic's GDP grew by 0.6 percent in the second quarter, according to analysts, it is still held back by industry. Survey: Two-thirds of Czechs perceive the current situation as an economic crisis.

Stock exchanges: Silver has climbed to a 12-year high, gold is also breaking records. The price of gold is at another record, surpassing the threshold of 2,550 USD per troy ounce.

Finance: MMR: It takes five years of household income to buy an average-sized apartment in the Czech Republic. Analysts: The price of gold, which has been breaking records this year, is likely to continue to rise. The Swiss Central Bank has cut the base interest rate by a quarter of a point to 1.00 percent. Survey: People no longer insist on owning their own homes, only less than half want it. Analysts: New mortgage rules may not make early repayments more expensive. The IMF has agreed with Ukraine to release another 1.1 billion USD. The Fed has cut the base interest rate by half a point to a range of 4.75 to 5.00 percent. Study: Fintech companies' revenues rose last year, but market valuations fell. The time has come to cut interest rates, said the head of the US central bank. Reuters: More and more ECB officials are leaning towards a September interest rate cut. China's central bank cuts interest rates, will consider further support by the end of the year. China's central bank is introducing the largest economic support measures since the pandemic. Russia's central bank has raised its base rate by one percentage point to 19 percent. Raiffeisen Bank shares are weakening after shares of its branch were frozen in Russia. The world's longest-serving central bank chief may get another term. Jet Investment Group sold the Třebíč-based Tedom Group to Japan's Yanmar Group. Partners Bank has 70,000 clients in six months, more than other new banks. Analysts: Floods in Central Europe could cause losses of up to billions of euros.