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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: Deloitte survey: Companies use AI in customer service or marketing. Analysts: Wage growth fell short of expectations, higher-income earners are growing faster. Retailers' sales accelerated growth in July, but according to analysts, it is still slow. According to the Ministry of Finance's prediction, the average wage in the Czech Republic could exceed CZK 54,000 within three years. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. Czech industry continues to be in a slump, falling by 3.4 percent year-on-year in June. Analysts: The August deterioration in sentiment among companies and consumers is disappointing. Economist Hampl: The Czech Republic did not sufficiently realize how the world has changed after 2019. Inflation in August remained at 2.2 percent, exceeding analysts' and CNB estimates. Exports from Germany accelerated their decline in June, but industrial production increased. Survey: The heads of the largest British companies had record incomes last year. Saudi oil revenues will fall more than expected this decade, according to the IMF. CZSO: The savings rate of Czech households fell slightly to 19.6 percent last year. Kateřina Klosová will head the board of directors of the Czech branch of Dun & Bradstreet. Prices in industry in the Czech Republic accelerated growth, while in agriculture they slowed down the decline. SAP: The introduction of AI would increase the value of domestic companies by an average of 16 percent. The Czech construction industry continues to decline, its year-on-year decline accelerated to 10.2 percent in June. Inflation in the US was the lowest in more than three years in July. Unemployment in Britain unexpectedly fell to 4.2 percent, wages grow more slowly. Inflation in Hungary fell to 3.4 percent, the lowest in three and a half years. Analysts: June retail sales exceeded market estimates, but recovery is gradual. Italian industrialists support a return to the core to reduce energy costs. ČNB: Czech household debt rose to almost 2.32 trillion CZK in July. Inflation in the US fell to 2.5 percent in August, the lowest in three and a half years. Reuters: China faces a rise in obesity due to economic problems and automation. Inflation in the Czech Republic accelerated to 2.2 percent in July, the 15th lowest in Europe. Budget deficit next year will be no more than 231 billion CZK, the state will not abolish the windfall tax. Turkey's inflation rate has slowed to 52 percent, high interest rates are helping.

Stock markets: Wood Mackenzie: Replacing China in copper supplies is impractical.

Finance: MMR: Five annual household incomes are needed to buy an average-sized apartment in the Czech Republic. Investors will buy back part of Revolut shares, valuing the company at $45 billion. The time has come to lower interest rates, said the head of the US central bank. The net profit of the ČSOB group in the first half of the year rose by two percent to CZK 9.5 billion. Buffett's Berkshire Hathaway increased its profit by 15 percent to USD 11.6 billion. Analysts: The most advantageous investments include funds with quality bonds. Analysts: New mortgage rules may not make early repayments more expensive. The IMF has agreed with Ukraine to release another 1.1 billion USD. Analysts: The price of gold, which has been breaking records this year, will probably continue to rise. Jet Investment Group sold the Třebíč-based Tedom Group to Japan's Yanmar Group. Hungary's central bank has suspended interest rate cuts. Gold and cocoa have become more expensive on the markets this year, while cotton and wheat have become cheaper. Raiffeisen Bank shares are weakening after Russia froze the shares of its branch. J&T Bank's net profit rose by 27 percent in the first half of the year to 3.94 billion crowns. Analysis: Germany remains by far the largest net payer in the EU. Insurance company: Damage to agricultural land due to frost and hail will reach two billion CZK.