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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: Bloomberg: Germany's days as an industrial superpower may be coming to an end. The Czech Statistical Office will publish retail sales data for December and the whole of last year today. Deloitte: The number of mergers and acquisitions in Europe and the UK fell by 24 percent last year. CMKOS continues to estimate inflation at 5 percent this year, saying that price increases have not ended. Consumer prices in China fell by the most in 14 years in January. Industrial conditions worsened further in February, but less than in January. Analysts: The economy was dragged down by household consumption dampened by high inflation. Analysis: The number of mergers and acquisitions of Czech companies fell by 43 percent last year to 80. 85 percent of Czechs feel the effects of inflation, but expect it to get better. IMF chief Georgieva: The global economy is heading for a soft landing. Retail sales fell by 4.1 percent last year, but December confirmed a recovery in consumption. Analysts: Inflation is to blame for last year's decline in retail sales, December confirmed the recovery. CNBC: Europe has had its worst earnings season since the onset of Covid-19. The inflation rate in Poland fell significantly in January, reaching 3.9 percent. WSJ: Indonesia is trying to join the family of Asian economic tigers. The inflation rate in Germany slowed to 2.5 percent in February. Inflation fell in January, some experts expect it to be below three percent. CNB: Czech household debt to banks rose to 2.253 trillion crowns in January. EY: Chinese companies took over the fewest European companies last year since 2012. DIHK: The US will overtake China and become Germany's most important trading partner.

Stock exchanges: Prices of gas, electricity and cereals are falling this year, while prices of oil, aluminum and cotton are rising. Gold exports from Switzerland were the highest in six years in January. The price of gold fell below $2,000 per ounce for the first time in two months. The value of global markets with emission allowances rose to a record last year.

Finance: Austrian Erste Group, owner of Česká spořitelna, increased its profit by 39 percent last year. Banks provided mortgages worth CZK 13 billion in January, double the year-on-year figure. Hypoteční banka changes its name to ČSOB Hypoteční banka, nothing changes for clients. ČBA: The real estate market in the Czech Republic has revived, apartment sales increased by tens of percent last year. Capital One is buying the credit card issuer Discover for 35 billion USD. Komerční banka's net profit fell by 11.4 percent year-on-year last year to CZK 15.6 billion. Index: Mutual funds made money for investors in January, equity funds two percent. ČSOB Group's net profit in 2023 rose by six percent to CZK 15.4 billion. Billionaire Buffett's Berkshire Hathaway achieved a record net profit. Analysts: The interest rate cut will not have an immediate impact on the recovery of the real estate market. Société Générale's net profit fell by 60 percent, but it exceeded estimates. Portu analysis: Banks are starting to take the CNB rate cut into account in savings accounts. Hypoindex: The average mortgage rate fell to 5.6 percent in early February. Trinity Bank's gross profit fell by 200 million to 800 million crowns last year. The integration of the development and export bank should be completed next year. Survey: Two-thirds of Czechs regularly save money for retirement. Allianz Trade: The risk of companies being unable to repay their obligations fell worldwide last year. Analysts: The price of gold is heading for records this year, due to budget deficits. Coface: GDP in the Czech Republic will increase by 1.5 percent this year, average inflation will fall to 3.3 percent. Payment via Apple Pay is the most used mobile payment service in the Czech Republic. Registries: Czechs' debt rose by 5.1 percent last year to 3.31 trillion CZK.