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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: The EU economy fell by a record 11.7 percent in the 2nd quarter. According to analysts, retail sales in the Czech Republic are heading for a full-year decline. BBC: Argentines are worried about the quarantine, which has been going on for five months in parts of the country. WTO: World trade will fall by 13 percent this year due to coronavirus. Hartmann-Rico will not produce respirators in the Czech Republic, but in Germany. Ifo: German companies expect to return to normal in 11 months. Bundesbank: A vaccine may be needed for the economy to fully recover. Survey: Companies will temporarily limit investments, invest more in IT and online. Growth in confidence in the Czech economy slowed significantly in August. The EU economy fell by a record 11.9 percent in the second quarter. According to analysts, the economic downturn is not tragic. Over 31,000 sole proprietors started businesses in the Czech Republic in the first half of the year. Analysts: Data from the industry is positive, but the decline will continue. The Isolit-Bravo company earned 106 million crowns last year. Respilon is already producing respirators in Brno, and is preparing a second line. OECD: The economies of member countries fell by a record in the 2nd quarter. The Czech economy, like others, fell by a record in the 2nd quarter. Growth in the manufacturing sector in the US accelerated in July. CZSO: 60 percent of entrepreneurs experienced the impacts of the coronavirus crisis. The German economy fell by 9.7 percent in the second quarter.

Stock exchanges: The company Kovosteel Recycling's sales fell to 595.3 million CZK last year. The price of gold exceeded $2,000 per troy ounce for the first time. Russia plans to invest in expanding precious metals production.

Finance: July inflation of 3.4 percent was in line with the Czech National Bank's forecast. S&P agency worsened the outlook for Boeing's credit rating. HSBC bank profit fell by 65 percent in the first half of the year. Survey: A third of households lost part of their income during the pandemic. Seven percent of Slovak households face the risk of financial difficulties. Bank of England: The economy will recover more slowly. Bank loans fell by 264 billion in June to 5.922 trillion CZK. Uniqa insurance company collected 6.6 percent more in premiums this year. Analyst Kovanda became the chief economist of the Czech Trinity Bank. According to estimates, the Czech National Bank will leave interest rates unchanged on Thursday. CNB note: The price increase is an effort to compensate for the loss of income. Air Bank's net profit rose slightly in the first half of the year to CZK 783 million. RBP will contribute two million to widespread testing in companies. According to analysts, the price of gold will continue to rise in the longer term. Hypoindex: The average mortgage rate is the lowest in more than 2.5 years. Broker Consulting's revenue from its main activity increased by 12 percent this year. Quarterly profit of banks in the US fell again by 70 percent due to coronavirus. CNB left rates unchanged, worsened its estimate of economic development. New Zealand's central bank expanded its bond purchase program. Analysts: The price of silver exceeded seven-year highs, will continue to rise in price. The share of foreign investors holding Czech bonds fell. Komerční banka's profit fell by 38.5 percent in the first half of the year.