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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: Survey: Czechs are more willing to accept worse jobs due to Covid. Analysts: Inflation may be the highest for the whole year since 2008. Italy's economy fell by a record 12.8 percent in the quarter. IDEA: Abolition of super gross wage is least beneficial for low-income earners. Analysts: July retail results surprised positively. In a number of Moravian-Silesian companies, workers do not have to wear masks. The year-on-year decline in construction production slowed to 10.4 percent in July. Statisticians confirmed a 12.1 percent decline in the Slovak economy. Wages in the Hradec Králové region fell by 0.4 percent in the second quarter to 32,521. Chamber: Some companies are concerned about the mission to Taiwan. The Brazilian economy fell by a record 9.7 percent in the quarter. Prices were 3.3 percent higher in August compared to last year, alcohol became more expensive. The Czech Statistical Office will announce how industry, trade and construction fared in July. Bisnode: 81 percent of companies have not yet published their results for last year. Consumer prices slowed down to 3.3 percent in August. The Greek economy fell by 14 percent, the recession deepened. The Japanese economy fell more significantly than originally estimated. Exports from China grew the most in almost 1.5 years, but imports fell. In August, the Czech Republic added the most entrepreneurs since January 2012. The average wage in southern Moravia was CZK 33,049 in the second quarter. According to economists, the new forecast of the Ministry of Finance is quite realistic. At the end of August, a record number of companies applied for protection from creditors. Inflation in Slovakia was the lowest in August since the summer of 2017. The economy fell by 11 percent year-on-year. The worst is probably behind it. Bloomberg: The world's most stable currency protects exports from Taiwan. Three companies, including the Czech Charvát group, are investing in Slovakia.

Stock exchanges: Miners have seen a 30 percent drop in demand this year.

Finance: Atradius: The number of companies in insolvency worldwide will increase by 26 percent this year. Commerzbank will stop using EY as an auditor after the Wirecard affair. Buffett bought shares in five major companies in Japan. German regulator: The worst of the coronavirus crisis is yet to come. Fed: Economic activity in the US grew slightly in August. Hypoteční banka and ČMSS will have the same management from next year. ČMZRB approved support of 38 billion CZK by August, 2.5 times more year-on-year. As of September 4, banks approved 358,000 applications for deferral of loan payments. Bloomberg: The ECB Executive Board could have an equal number of women and men for the first time. EY: 37 percent of Czechs are unaware of cyber risks. Reuters: Caixabank and Bankia have agreed in principle to merge. As expected, the Fed left interest rates unchanged, improved the outlook. The four major Chinese banks have the largest drop in profits in a decade. As of August 28, banks accepted 399,000 applications for deferral of loan payments. Foreign investors hold the most Czech bonds since 2017. British bank Lloyds will eliminate 865 jobs, create new ones. The number of payment cards in the Czech Republic increased by 200,000 to 12.9 million. Household debts to banks increased to CZK 1.809 trillion in July.