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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: Analysts: Industry was not in shape even before the pandemic, a slump is coming. SB: The pandemic will reduce growth in Asia, China will grow at least for 40 years. The number of purchases via EET increased by 12 percent during the weeks in quarantine. Union: Companies have a shortage of protective equipment for normal activities. The volume of Chinese investments in the EU fell by 33 percent last year to 12 billion euros. Survey: A quarter of companies and self-employed people are at risk of going out of business due to coronavirus. Unemployment is rising in the US due to coronavirus, Europe is also having problems. Unions: Construction work should continue without interruption if possible. Industry was already declining before the virus, construction and trade were doing well in February. A sawmill for processing coniferous wood was put into operation in Štětí. Study: Virus could push half a billion people into poverty. Sales rose above expectations in February, impacts of epidemic in March. Conditions in manufacturing industry worsened the most in 10 years. Restaurateur asked for payment deferral, authorities foreclosed on apartment instead. Eurozone inflation slowed sharply in March, standing at 0.7 percent. Bernanke: US economy could shrink by 30 percent in quarter. Spain has 100,000 infected, US death toll could reach 240,000. Share of companies out of business dropped to 67 percent. Ostrava VŠB to produce up to 3,000 protective shields on 3D printers. Africa has difficulty transporting goods and aid due to coronavirus. Česká zbrojovka worker has COVID-19, production continues at company. Analysts: Good labor market data is temporary, deterioration will come. Italy expects a crushing collapse in industry. Real estate companies: Interest in real estate has fallen by up to tens of percent. Collection agencies: General postponements of repayments will rather relieve the rich. IIF: Global debt rose to a record 255 trillion USD last year. The French economy may have fallen by up to six percent in the quarter. Association: Coronavirus caused Czech businesswomen to lose half a billion.

Finance: Credit providers do not agree with a general postponement of loan repayments. Michl: The drop in GDP would be close to 10 percent depending on electricity consumption. Analysts: Banks have not yet changed the interest rates on savings accounts or mortgages. Banks are waiting for the opinion of the Office of the Inspectorate of Taxation in preparing a smart quarantine. Politico: The consequences of cuts have weakened the Spanish healthcare system. Survey: Two-thirds of companies would appreciate it if the Czech National Bank strengthened the crown. The Italian government approved aid to companies worth 400 billion euros. According to UniCredit Bank, the economy will fall by 11 percent this year. According to Česká spořitelna, the economy will fall by 4.2 to 9.9 percent this year. Hospital Association: The state should give money to pay healthcare workers. ČBA: The relaxation of the Czech National Bank's limits for mortgages is an effort to revive the market. Eurozone banks cancel dividends due to coronavirus. Association: Banks received 140,000 requests for deferral of loan payments. The Polish central bank reduced the base interest rate to half a percent. Household debts with banks rose to CZK 1.76 trillion in February. Mutual funds generally fell into losses, stocks lost 19 pct.. UniCredit in Italy will lay off 5200 people, but will employ 2600 young people.