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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: Activity in the US manufacturing sector fell for the first time in two and a half years. Analysts: November's decline in construction output does not indicate a crisis in the sector. Industry and construction slowed in November, foreign trade remains in deficit. The budget had a deficit of 360.4 billion CZK, the state debt rose to 2.895 trillion. German industry returned to growth in November, but some companies expect a slowdown. Survey: German companies plan to expand activities in Africa next year. Bloomberg: Falling property prices in Sweden may deepen the economic crisis. Analysts criticize the government for not reforming public finances in the first year. Business activity in the eurozone fell less than expected in December. Deloitte: The Czech Republic is facing a recession due to the energy crisis, GDP will fall by 1.1 percent. Chinese imports and exports fell the most in two and a half years in November. EU and Czech residents are most concerned about the rising cost of living, according to Eurobarometer. The Czech National Bank spent 79 million euros on interventions in October, the least in the intervention period. The Czech Republic enters 2023 with a presidential election, people will go to the polls again in a year. According to CNB Governor Michl, the Czech Republic expects a year of significant inflation reduction this year. Creditreform: In Germany, corporate insolvencies will increase for the first time since 2009. The Indian central bank raised the base interest rate to 6.25 percent, worsening the outlook. After two years, the government's agenda was not dominated by Covid, but determined by the Russian invasion. According to Reuters, Greece repaid a loan from the eurozone early for the first time. UniCredit Bank was fined 10 million CZK by the CNB for violating mortgage rules. EY: American companies dominate the stock market despite losses by technology companies. The Slovak government has proposed a special tax on excessive income of electricity producers. The EBRD invested a record 13.1 billion euros last year, part of which will go to Ukraine. Analysis: Real wages in the Czech Republic are falling the most among OECD countries and since the state was founded. Further rate increases in the US could throw the stock market into chaos, according to an investor. Survey: Investments from the US and Europe to China often go through tax havens. Atomico: The value of European technology companies has fallen by 400 billion USD this year. Survey: German companies expect only a slight recession in the German economy.

Stock markets: Analyst: Gas and coal have risen in price by tens of percent this year, precious metals have fallen in price. The price of gold has risen to a six-month high. Analysts: Gas price cap may worsen energy crisis. Bloomberg: Tesla is preparing to conclude a preliminary agreement to build a plant in Indonesia. Gas for the European market continues to become cheaper, reaching 70 euros per MWh in the morning. Kovohutě Příbram has built a pilot line for recycling lithium batteries. 2023 will be a difficult year for investing, analysts recommend bonds or gold.

Finance: McLaren sold part of its collection of vintage cars to raise money for the new Arturo supercar. Jack Ma will no longer control the Chinese fintech giant Ant Group. New York State charges the founder of the cryptocurrency lending company Celsius with fraud. J&T Fund received approval from the Czech National Bank to acquire 19.99 percent in Moneta Money Bank. CNBC: SpaceX will receive 750 million USD from investors. The UK financial services sector is set to undergo its biggest changes in more than 30 years. Analyst: Oil and gas prices have risen this year, while industrial metals have generally fallen. Banks: Share of problematic bank loans to households has fallen further. Central banks continued to expand gold reserves last year. US authority extends Sberbank CZ exemption from sanctions, sales can continue.