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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: The Czech Republic is the sick man of Europe, trapped in mediocrity, wrote the newspaper Die Welt. Unemployment in the Czech Republic fell to 3.5 percent in October, surprising analysts. Inflation rose to 8.5 percent in October, but experts say inflationary pressures are weakening. Inflation in Britain fell sharply, to its lowest level in two years at 4.6 percent. Study: People underestimate wealth inequality between rich and poor. Analysts: The impact of economic stagnation on unemployment is minimal. The German economy shrank by 0.1 percent quarter-on-quarter in the third quarter. Le Monde: Cyprus has become a key base for the porn industry due to taxes. The inflation rate in Hungary fell below ten percent in October for the first time since last spring. Inflation in Germany surprisingly fell significantly in November, to 2.3 percent. The Japanese economy fell sharply in the third quarter, the threat of recession is growing. CRIF: In October, 1,067 companies were added in the Czech Republic, 172 fewer than in the same period last year. Chinese industry and retail grew more than expected, but deflation continues to threaten. Analysts: The average wage in the Czech Republic fell in real terms in the third quarter. Analysis: Budget expenditures for 2024, adjusted for inflation, correspond to 2019. Analysts: The construction market cannot be expected to recover, it will fall even further this year. Stock: The trend of lower consumption of spirits continues, it will be affected by higher taxes next year. S.A.B. Aerospace increased sales by 70 percent last year to 185 million crowns. The most valuable Czech companies are ČEZ, EPH and Agrofert, according to the Seznam Zpráv ranking. The Czech economy will not avoid a decline this year, analysts agree. Consumer confidence in the US has fallen to a six-month low. Prague Entrepreneur of the Year: The best marketing is to be your own influencer. The price of Russian Urals oil fell in November, but remained above the price ceiling.

Stock exchanges: Commodity prices on the markets have mostly fallen this year, their index has written off 8.5 percent. The price of emission allowances in the EU has fallen below 72 euros per ton due to the slowdown in industry. The price of gold has risen to a six-month high near $2,020 per ounce. The American company ExxonMobil plans to become a leading lithium producer.

Finance: According to its boss, the ECB will not cut interest rates for several more quarters. The six largest banks in the Czech Republic saw their profits fall by CZK 1.3 billion year-on-year to CZK 57.1 billion. Hypoindex: The average mortgage rate rose to 6.02 percent in early December. The Polish central bank left interest rates unchanged, a reduction was expected. Registries: Czechs' debt rose by 3.5 percent in the third quarter to CZK 3.26 trillion. The governor of the Polish central bank, Glapiński, defends himself against critics of his leadership style. Fuchs leads the combined online comparison sites Srovnejto.cz, Klik.cz and ePojisteni.cz. IMF: Rapid easing of monetary policy in the eurozone would be a costly mistake. The ECB is imposing stricter requirements on the French Société Générale due to risk. The Czech National Bank has eased mortgage rules, but experts do not expect a major market recovery. Index: Equity mutual funds lost money for investors in October, while bond funds made money. Survey: According to 71 percent of Czech households, Christmas will cost up to CZK 15,000. Entrepreneurs Tykač and Holeček have established a foundation that will support the CEVRO school. Survey: Domestic dollar millionaires are increasingly becoming investors. UBS had a loss of USD 785 million in the quarter due to the costs of taking over Credit Suisse. Bloomberg: Banks from Thailand and Korea want Home Credit's activities in Vietnam. J&T Banka has completed the sale of its subsidiary J&T Bank AO to the Russian holding Bjurokrat. Survey: The financial situation of Czech households has improved slightly year-on-year.