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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: Retailers' sales accelerated growth in July, but still slowly, according to analysts. Business activity in the eurozone unexpectedly fell in September, Germany is facing a recession. Inflation in Hungary fell to 3.4 percent, the lowest in three and a half years. Analysts: The revival of consumption is gradual, the reason is concerns about the development of the economy. The average wage in the Czech Republic rose to 45,854 CZK, the growth was below market expectations. onsemi: Without an investment incentive, production in Rožnov could not have expanded. Economist Hampl: The Czech Republic did not sufficiently realize how the world had changed after 2019. The average wage in the Czech Republic increased by almost four percent in real terms in the second quarter. The Japanese economy grew significantly faster than expected in the quarter. Kateřina Klosová will lead the board of directors of the Czech branch of Dun & Bradstreet. Inflation in the Czech Republic accelerated to 2.2 percent in July, making it the 15th lowest in Europe. Inflation in the US fell to 2.5 percent in August, the lowest in three and a half years. Unemployment in Britain unexpectedly fell to 4.2 percent, wages are growing more slowly. Excellent: Foresters will receive 2 billion CZK instead of 500 million for farming next year. IfW: The German economy will continue to decline this year. The number of hundred-millionaires has increased by 54 percent in ten years, most in China and the US. The Spanish central bank has increased its GDP growth estimate to 2.8 percent thanks to tourism. Prices in industry in the Czech Republic have accelerated growth, while in agriculture they have slowed down the decline. SAP: The introduction of AI would increase the value of domestic companies by an average of 16 percent. Saudi oil revenues will fall more than expected this decade, according to the IMF. CZSO: The savings rate of Czech households fell slightly last year to 19.6 percent. Industry and trade did not do well in July, construction increased year-on-year. Analysts: Wage growth fell short of expectations, high-income earners are growing faster. Reuters: China is facing a rise in obesity due to economic problems and automation. According to the Ministry of Finance, the average wage in the Czech Republic could exceed CZK 54,000 within three years.

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

Finance: MMR: It takes five years of household income to buy an average-sized apartment in the Czech Republic. The Bank of Japan left interest rates unchanged. Air Bank Group's net profit rose by five percent in the first half of the year to CZK 1.3 billion. The IMF agreed with Ukraine to release another USD 1.1 billion. Hypoindex: The average mortgage rate fell by 0.04 points in September to 5.38 percent. Analysis: Germany remains by far the largest net payer in the EU. Reuters: More and more ECB officials are leaning towards a September interest rate cut. The profit of the largest Swiss bank UBS in the second quarter exceeded expectations. Index: Mutual funds generally continued to make profits for investors in July. Bloomberg: Floods in Central Europe will cause significant losses for insurance companies. Hungary's central bank has suspended interest rate cuts. Russia's central bank has raised its base rate by one percentage point to 19 percent. Germany has sold part of its stake in Commerzbank to Italy's UniCredit for 702 million euros. Analysts: New mortgage rules may not make early repayments more expensive. Banks provided mortgages worth 23.8 billion CZK in July, up 109 percent year-on-year. The Bank of England left its base rate at 5 percent. The time has come to cut interest rates, said the head of the US central bank.