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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. PwC: The number of mergers and acquisitions in the Czech Republic was the lowest in six years in the first half of the year. Deloitte survey: Companies are using AI in customer service or marketing. Goldman Sachs analysts have increased the probability of a recession in the US to 25 percent. US inflation was the lowest in more than three years in July. Saudi oil revenues will fall more than expected this decade, according to the IMF. The board of directors of the Czech branch of Dun & Bradstreet will be headed by Kateřina Klosová. Moody's: The largest number of Russian-owned companies in the EU are registered in the Czech Republic. According to the Ministry of Finance, the average wage in the Czech Republic could exceed CZK 54,000 within three years. CNB: Czech household debt rose to almost CZK 2.32 trillion in July. Survey: Electricity and gas are still the dominant energy sources for Czech companies. The average wage in the Czech Republic rose to CZK 45,854, growth was below market expectations. Unemployment in Britain unexpectedly fell to 4.2 percent, wages are growing more slowly. Retail sales accelerated growth in July, but according to analysts, it is still slow. Dun & Bradstreet: The number of unreliable VAT payers has increased this year. Italian industrialists support a return to the core in order to reduce energy costs. Survey: The heads of the largest British companies have record incomes last year. CZSO: Industry and construction continued to decline year-on-year in June, trade remained in the black. Czech GDP grew by 0.6 percent in the second quarter, according to analysts, it is still held back by industry. Czech Statistical Office: The savings rate of Czech households fell slightly to 19.6 percent last year. Inflation in China surprisingly accelerated to 0.5 percent, producer prices are falling. The budget deficit will be at most 231 billion CZK next year, the state will not abolish the windfall tax. Reuters: China faces a rise in obesity due to economic problems and automation. Study: 400 entrepreneurs went bankrupt in July, the least this year. The financial administration recovered tax arrears worth 16.7 billion CZK last year, up year-on-year.

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

Finance: Analysts: The most advantageous investments include funds with quality bonds. The Russian Central Bank has increased the base interest rate by two percentage points to 18 percent. Belgian bank KBC's profit fell by four percent, it also fell in the Czech Republic. The time has come to reduce interest rates, said the head of the US central bank. The banking association has worsened this year's economic outlook, expecting growth of 0.9 percent. The Hungarian central bank has interrupted the reduction of interest rates. The Japanese central bank has increased the base rate to 0.25 percent. Komerční banka's profit fell by more than a fifth in the first half of the year to CZK 6.3 billion. Analysts: New rules for mortgages may not make early repayment more expensive. UniCredit Bank: Wealth is concentrated in men's accounts. Reuters: More and more ECB officials are leaning towards a September interest rate cut. Gold and cocoa have become more expensive on the markets this year, while cotton and wheat have become cheaper. Index: Mutual funds generally continued to make profits for investors in July. Česká spořitelna's net profit in the first half of the year increased by a third to CZK 12.4 billion. MMR: Five annual household incomes are needed to buy an average-sized apartment in the Czech Republic. Jet Investment Group sold the Třebíč-based Tedom group to the Japanese Yanmar Group. Creditas bought an office building project in Prague's Karlín from Sekyra Group. Registries: Czechs' debt increased by 6.7 percent in the second quarter to CZK 3.44 trillion.