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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: Reuters: China faces rising obesity due to economic problems and automation. Saudi oil revenues will fall more than expected this decade, IMF says. Prices in industry and construction rose in August, while agriculture fell again. Unemployment in Britain unexpectedly fell to 4.2 percent, wages are growing more slowly. Moody's: The Czech Republic has the largest number of Russian-owned companies in the EU. IfW: The German economy will continue to decline this year. Reuters: The German economy will decline again this year, leading economic institutes expect. Prices in industry in the Czech Republic have accelerated growth, while prices in agriculture have slowed down. The budget deficit next year will be a maximum of CZK 231 billion, the state will not abolish the windfall tax. Analysts expect another CNB interest rate cut, probably to 4.25 percent. SAP: The introduction of AI would increase the value of domestic companies by an average of 16 percent. Analysts: Wage growth fell short of expectations, high-income earners are growing faster. The average wage in the Czech Republic increased by almost four percent in real terms in the second quarter. The Czech Republic's GDP grew by 0.6 percent in the second quarter, according to analysts, it is still held back by industry. Analysis: Trade between Britain and the EU has fallen by more than a quarter in the last three years. Excellent: Foresters will receive 2 billion CZK instead of 500 million next year for farming. Business activity in the eurozone unexpectedly fell in September, Germany is facing a recession. Analysis: The purchasing power of Eastern European countries is gradually catching up with the West. Retail sales accelerated growth in July, but according to analysts, it is still slow. The Spanish central bank raised its GDP growth estimate to 2.8 percent thanks to tourism. The inflation rate in Germany slowed to 1.9 percent in August. The German economy will show zero growth this year, the Ifo Institute estimates. The average wage in the Czech Republic rose to 45,854 CZK, growth was below market expectations. Inflation in the US was the lowest in more than three years in July.

Stock exchanges: The price of gold is at another record, surpassing the 2,550 USD per troy ounce mark. Wood Mackenzie: Replacing China in copper supplies is unfeasible. The price of gold has surpassed the 2,500 USD per troy ounce mark for the first time in history.

Finance: Jet Investment Group sold Třebíč-based Tedom Group to Japan's Yanmar Group. The market value of Buffett's Berkshire exceeded a trillion dollars. Partners Bank has 70,000 clients in six months, more than other new banks. Bloomberg: Floods in Central Europe will cause significant losses for insurance companies. The Fed lowered the base interest rate by half a point to a range of 4.75 to 5.00 percent. Banks provided mortgages for CZK 23.8 billion in July, up 109 percent year-on-year. Czech National Bank: Banks' net profit rose by eight percent to CZK 59.9 billion in the first half of the year. Analysts: The price of gold, which is breaking records this year, will probably continue to grow. UniCredit bought more Commerzbank shares, may become the largest shareholder. Survey: Almost 70 percent of Czech adults save for retirement somehow. IMF agrees with Ukraine to release another 1.1 billion USD. Insurance company: Damage to agricultural land due to frost and hail will reach two billion CZK. Hungary's central bank has lowered the base interest rate to 6.50 percent. Ministry of Finance: The number of new building savings contracts increased by 4.1 percent in the first half of the year. Japan's central bank has left interest rates unchanged. Fitch has downgraded Israel's rating due to increased tension in the Middle East. Survey: People no longer insist on owning their own homes, only less than half want it. Russia's central bank has increased the base interest rate by one percentage point to 19 percent.