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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: Service sales continue to grow, up 2.5 percent year-on-year in the second quarter. Analysts: June slump in construction points to a major problem in the sector. Inflation in China surprisingly accelerated to 0.5 percent, production prices are falling. The financial administration recovered tax arrears worth CZK 16.7 billion last year, up year-on-year. Inflation in the Czech Republic accelerated to 2.2 percent in July, making it the 15th lowest in Europe. Kateřina Klosová will lead the board of directors of the Czech branch of Dun & Bradstreet. ČNB: Debts of Czech households rose to almost CZK 2.32 trillion in July. Dun & Bradstreet: The number of unreliable VAT payers has increased this year. CZSO: Industry and construction continued to decline year-on-year in June, trade remained positive. Inflation rate in Germany slowed to 1.9 percent in August. Survey: Electricity and gas are still the dominant energy sources for Czech companies. Czech GDP grew by 0.6 percent in the second quarter, according to analysts, it is still held back by industry. Analysts: Global IT system outage dealt another blow to supply chains. Analysts: August's deterioration in sentiment among companies and consumers is disappointing. Moody's: Most Russian-owned companies in the EU are registered in the Czech Republic. Sentix: Investor confidence in the eurozone economy has fallen again, to its lowest level since January. Survey: The heads of the largest British companies have record incomes last year. Prices in industry in the Czech Republic have accelerated growth, in agriculture they have slowed down the decline. Czech Statistical Office: The savings rate of Czech households fell slightly to 19.6 percent last year. Inflation in Poland rose for the fifth month in a row in August, reaching 4.3 percent. The German economy will show zero growth this year, the Ifo Institute estimates. Italian industrialists support a return to the core with the aim of reducing energy costs. Czech industry continues to be in decline, falling by 3.4 percent year-on-year in June. Deloitte survey: Companies use AI in customer service or marketing.

Stock exchanges: Wood Mackenzie: Replacing China in copper supplies is impossible. The price of gold for the first time in history exceeded $2,500 per troy ounce.

Finance: Registry: Czech debt increased by 6.7 percent in the second quarter. to 3.44 trillion CZK. Of the commodities on the markets this year, gold and cocoa have become more expensive, cotton and wheat have become cheaper. Investors will buy back part of Revolut shares, valuing the company at 45 billion dollars. The Czech National Bank has imposed a fine of 1.8 million CZK on Fondee for errors in providing services. Analysis: Germany remains by far the largest net payer in the EU. UniCredit Bank: Wealth is concentrated in men's accounts. Moneta bank's net profit in the first half of the year rose by 9.1 percent to 2.7 billion CZK. In the first half of the year, 4.12 million people had supplementary pension insurance, 100,000 fewer than last year. Analysts: The most advantageous investments include funds with quality bonds. In July, banks provided mortgages for 23.8 billion CZK, 109 percent more year-on-year. Survey: 55 percent of people in the Czech Republic manage to save regularly, more than a year ago. China has cut another key interest rate in an effort to support the economy. The six largest banks in the Czech Republic have seen their net profit increase by six percent this year to CZK 39.5 billion. UniCredit Bank: The disadvantage of investing in residential real estate has decreased. Index: Mutual funds generally continued to make profits for investors in July. Fitch downgraded Israel's rating due to increased tension in the Middle East. The profit of the largest Swiss bank UBS in the second quarter exceeded expectations. The Hungarian central bank has suspended interest rate cuts. The net profit of the ČSOB group in the first half of the year rose by two percent to CZK 9.5 billion.