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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: Czech construction industry continues to decline, its year-on-year decline accelerated to 10.2 percent in June. Survey: Two-thirds of Czechs perceive the current situation as an economic crisis. Analysts: June foreign trade surplus significantly exceeded market estimates. IfW: German economy will continue to decline this year. Deloitte survey: Companies use AI in customer service or marketing. Turkey's inflation rate has slowed to 52 percent, high interest rates are helping. The average wage in the Czech Republic increased by almost four percent in real terms in the second quarter. Italian industrialists support a return to the core with the aim of reducing energy costs. The budget deficit next year will be a maximum of CZK 231 billion, the state will not abolish the windfall tax. Inflation in China surprisingly accelerated to 0.5 percent, producer prices are falling. The Japanese economy grew significantly faster than expected in the quarter. Analysis: The purchasing power of Eastern European countries is gradually catching up with the West. Inflation in the US was the lowest in more than three years in July. Inflation in the Czech Republic accelerated to 2.2 percent in July, making it the 15th lowest in Europe. The Czech Republic's GDP grew by 0.6 percent in the second quarter, according to analysts, it is still held back by industry. The Japanese economy grew at a rate of 2.9 percent in the second quarter, more was expected. The average wage in the Czech Republic rose to 45,854 CZK, growth was below market expectations. Analysts: The revival of consumption is gradual, the reason is concerns about the development of the economy. Czech Statistical Office: Industry and construction continued to decline year-on-year in June, trade remained in the black. Retailers' sales accelerated growth in July, but according to analysts, it was still slow. Industry and trade did not do well in July, construction grew year-on-year. Dun & Bradstreet: The number of unreliable VAT payers has increased this year. Inflation in Poland increased for the fifth month in a row in August, amounting to 4.3 percent. Kateřina Klosová will lead the board of directors of the Czech branch of Dun & Bradstreet. The inflation rate in Germany slowed to 1.9 percent in August.

Stock exchanges: The price of gold exceeded $2,500 per troy ounce for the first time in history. Wood Mackenzie: Replacing China in copper supplies is impractical.

Finance: The Hungarian central bank has stopped cutting interest rates. Registry: Czech debt rose by 6.7 percent in the second quarter to CZK 3.44 trillion. The profit of the largest Swiss bank UBS in the second quarter exceeded expectations. The British central bank lowered the base interest rate by a quarter of a point to five percent. Index: Mutual funds generally continued to make profits for investors in July. MMR: To buy an average-sized apartment in the Czech Republic, five annual household incomes are needed. Analysts: The most advantageous investments include funds with quality bonds. J&T Bank's net profit rose by 27 percent in the first half of the year to CZK 3.94 billion. Creditas bought an office building project in Prague's Karlín district from Sekyra Group. The market value of Buffett's company Berkshire exceeded a trillion dollars. Reuters: More and more ECB officials are leaning towards a September interest rate cut. Analysts: New mortgage rules may not make early repayment more expensive. Jet Investment Group sold Třebíč-based Tedom Group to Japan's Yanmar Group. It's time to cut interest rates, said the head of the US central bank. Buffett's Berkshire Hathaway increased its profit by 15 percent to USD 11.6 billion. Fitch downgraded Israel's rating due to increased tension in the Middle East. Japan's central bank raised its base rate to 0.25 percent. Belgian bank KBC's profit fell by four percent, and it also fell in the Czech Republic.