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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: OECD: Global economy to shrink by six percent this year due to virus. Central bank: Austrian economy to shrink by 7.2 percent this year. Confidence in the economy rose slightly in May after a previous slump. Japanese companies' profits fell the most in the quarter since 2009. Analysts: Industry's one-third decline should not be repeated. US home sales fall by the most in a decade. The number of applications for protection from creditors in the US rose by 48 percent. Japanese retail sales fell by the most in more than 20 years. Le Monde: Hebron's economy is only slowly recovering from the lockdown. Česká spořitelna: Czechs increased spending after measures were eased. Experts: Czech companies can benefit from the agreement between the EU and Vietnam. Analysts: Earlier publication of macro data may unsettle markets. Roger: Companies pay on average 20 days later than a year ago. Record decline in industry, trade balance lowest since joining the EU. Restaurants and hotels will open on Monday, wearing masks outdoors will end. Slovaks are the most frequent foreign owners of Czech companies. Analysts: April was critical for foreign trade, recovery will come. Unemployment rose to 3.6 percent, sales of stores fell by a tenth. The Slovak central bank expects a double-digit decline in the economy. Analysts: The budget deficit will be higher than CZK 300 billion this year.

Stock exchanges: The world's deepest mine in South Africa has been closed, 164 workers have been infected.

Finance: The Polish central bank has reduced its base interest rate to almost zero. SB: The world economy will fall by 5.2 percent this year due to coronavirus. Bank loans increased by 14 billion to 6.18 trillion CZK in April. German consumers can take out a loan with negative interest. Fitch agency has worsened the credit rating of the owner of Komerční banka. ČMZRB has so far approved assistance to 1,800 entrepreneurs in COVID programs. The World Bank has already provided coronavirus assistance in 100 countries. Hypoindex: The average mortgage rate fell in April, the volume is record. The Czech National Bank drew attention to the activities of Silk Assets Investments. Moody's downgraded India's rating to just above the speculative zone. Fed: The US economy will fall by 6.5 percent this year. The decree increases healthcare costs to 354 billion CZK. Survey: Most Europeans shopped more online in April. According to experts, the global economy will not recover until 2022 at the earliest. Gold sales in the Czech Republic increased by hundreds of percent during the pandemic. EAG will issue bonds for CZK 1.5 billion. The money will be used for acquisitions. Bloomberg: Kellner's bet on China is backfiring. Most banks have not yet signed a cooperation agreement on COVID III. CNB: New mortgages fell by a billion in April, the crisis did not manifest itself. Insurance companies have uncovered fraud worth hundreds of millions of crowns this year. Domestic holidays are dominated by shorter stays, there is interest in insurance. The share of non-cash transactions has increased by 69 percent. Křetínský EPH will issue additional bonds for CZK 2.5 billion. Analysts: The downgrade of Société Générale will not threaten KB in any way.