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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: Czech construction industry continues to decline, its year-on-year decline accelerated to 10.2 percent in June. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. Survey: Two-thirds of Czechs perceive the current situation as an economic crisis. The average wage in the Czech Republic increased by almost four percent in real terms in the second quarter. According to the Ministry of Finance, the average wage in the Czech Republic could exceed CZK 54,000 within three years. Inflation in the US was the lowest in more than three years in July. The German economy will show zero growth this year, the Ifo Institute estimates. The average wage in the Czech Republic increased to CZK 45,854, growth was below market expectations. Unemployment in Britain unexpectedly fell to 4.2 percent, wages are growing more slowly. Analysts: Consumption recovery is slow, due to concerns about economic development. Inflation in Poland rose for the fifth month in a row in August, reaching 4.3 percent. Czech GDP grew by 0.6 percent in the second quarter, according to analysts, it is still held back by industry. onsemi: Without an investment incentive, production in Rožnov could not expand. Moody's: The largest number of Russian-owned companies in the EU is registered in the Czech Republic. Retailers' sales accelerated growth in July, but according to analysts, it is still slow. Dun & Bradstreet: The number of unreliable VAT payers has increased this year. Economist Hampl: The Czech Republic did not sufficiently realize how the world has changed after 2019. Inflation in China surprisingly accelerated to 0.5 percent, producer prices are falling. Budget deficit will be a maximum of CZK 231 billion next year, the state will not abolish the windfall tax. Analysis: The purchasing power of Eastern European countries is gradually catching up with the West. The Japanese economy grew significantly faster than expected in the quarter. Saudi oil revenues will fall more than expected this decade, the IMF says. Analysts: June's slump in construction points to a major problem in the sector. Analysts: June's sales exceeded market estimates, but the recovery is gradual. Inflation in the Czech Republic accelerated to 2.2 percent in July, the 15th lowest in Europe. Study: 400 entrepreneurs went bankrupt in July, the fewest this year. Italian industrialists support a return to nuclear power in order to reduce energy costs. Analysts: June foreign trade surplus significantly exceeded market estimates.

Stock exchanges: The platinum market will probably show the largest deficit in the last ten years this year.

Finance: Survey: People no longer insist on owning their own homes, only less than half want it. Index: Mutual funds generally continued to make profits for investors in July. Analysts: The price of gold, which has been breaking records this year, will probably continue to grow. The six largest banks in the Czech Republic have seen their net profit increase by six percent this year to CZK 39.5 billion. Investors will buy back part of Revolut shares, valuing the company at $45 billion. Creditas has bought an office building project in Prague's Karlín from Sekyra Group. Jet Investment Group has sold the Třebíč-based Tedom Group to the Japanese Yanmar Group. The profit of the largest Swiss bank UBS in the second quarter exceeded expectations. Of the commodities on the markets this year, gold and cocoa became more expensive, cotton and wheat became cheaper. The Hungarian central bank has interrupted interest rate cuts. Insurance company: Damage to agricultural land due to frost and hail will reach two billion CZK. In the first half of the year, 4.12 million people had supplementary pension insurance, 100,000 fewer than last year. Analysts: New rules for mortgages may not make early repayment more expensive. The IMF has agreed with Ukraine to release another 1.1 billion USD. Belgian bank KBC's profit fell by four percent, and it also decreased in the Czech Republic. Buffett's Berkshire Hathaway increased its profit by 15 percent to 11.6 billion USD.