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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: Unemployment in the Czech Republic rose to 3.6 percent, economic stagnation is not reflected in it. Inflation in Germany slowed to 6.4 percent in August according to the EU methodology. Exports from China fell for the fourth consecutive month in August, trade slowdown persists. Vinyl producers GZ Media saw sales rise to 5.6 billion CZK last year, profit to a billion. Analysts: The period of decline in the average real wage is the longest in the history of the Czech Republic. Study: Older people have money, yet merchants ignore it. CVVM: 57 percent of people perceive the economic situation in the Czech Republic as bad. GDP fell year-on-year, but grew quarter-on-quarter, stagnation is expected for the whole year. The budget deficit fell to 194.6 billion CZK at the end of August. CNB: Czech household debt to banks exceeded CZK 2.21 trillion in July. The US economy grew less than expected in the quarter after data revisions. The inflation rate in Turkey is increasing significantly again, reaching 58.9 percent. The CNB has been reducing the credit market protection reserve rate to two percent since October. UN: Damage caused by the spread of invasive species amounts to approximately USD 423 billion annually. Rhodium: Western companies are redirecting investments from China to India and other countries. Bundesbank: The German economy will probably stagnate again in the third quarter. Fuel prices in the Czech Republic continued to rise in price this week, reaching multi-month highs. Analysts: Industrial production in the Czech Republic fell the most in July since last April. China emerged from deflation in August. Survey: 60 percent of companies are skeptical about the development of the Czech economy. Entrepreneurs appeal to the government to remove obstacles to strategic investments. CVVM: Three-fifths of Czechs are in favor of progressive income taxation, the trend is unchanged.

Stock exchanges: Analysts: A global lithium shortage could occur as early as 2025. Gas for the European market is becoming more expensive again due to planned strikes in Australia. Bloomberg: Prices for one of the most popular diamond sizes are falling sharply.

Finance: DPA: The Russian economy is growing, but the impacts of the war in Ukraine are becoming increasingly noticeable. Fitch confirmed the Czech Republic's rating, but the outlook remains negative. BBC: The former head of the British central bank will head the Bloomberg board of directors. FT: The Norwegian sovereign wealth fund has become the largest shareholder in the Swiss bank UBS. Survey: A quarter of people in the Czech Republic have experienced a store stopping accepting cards. Experts: The abolition of interest on bank reserves at the CNB will make loans more expensive or reduce deposit interest rates. IMF: The ratio of global debt to world economic output fell again last year. Russian Raiffeisenbank is introducing a fee of USD 1,000 for transfers in dollars to Russian accounts. China has reduced the requirement for mandatory minimum reserves for banks for the second time this year. Hypomonitor: The volume of mortgages in August was the highest since June 2022, rates have fallen. Indian minister: The dollar will not lose its influence in the global economy for a long time. Comparator: Ten bond issuers have been insolvent in a year and a half, i.e. 1.7 percent. Renáta Kellnerová and her family now own the entire PPF investment group. The Air Bank Group's net profit fell by 28 percent this year to CZK 1.244 billion. Swiss bank UBS made a record profit thanks to the takeover of Credit Suisse. The Slovak Budget Council has warned of the poor condition of the country's state finances. Association: The number of payment cards in the Czech Republic has increased by 750,000 this year to 14.75 million. The Partners Group expects to open Partners Bank to clients in the spring. The Russian Central Bank has increased the base interest rate to 13 percent due to inflation. Hypoindex: The average mortgage rate fell to 6.1 percent at the beginning of September.